And if you want you could allocate your proceeds into multiple replacement properties if you want.

After that, just allocate each expense from each credit card to the appropriate property and the appropriate charge type (supplies, repairs, utilities, etc).

I'm going to implement RUBS, but am looking for guidance on the proper allocation here. 

I will be handling property management myself, but I would like to allocate monthly income towards this from the beginning so that I can hire it out in the future if necessary.

I have some funds to invest around 100K, plus I’m going to leverage HML in to deals. 70% of my funds i want allocate to fix n flips and 30% in to something that can generate some sort of cash flow every month.Please advise if this is the right strategy and how to find properties. 

@Tom Dittrich I personally like the Fund of Funds approach because you can diversify the allocations across vetted sponsors and get a mix of returns.

- Rental income:- Expenses: - Class of neighborhood and property:I am a Mobile, AL local.

I didn't consider a difference between capital contribution and profit allocation.

Now that I am starting to allocate more time towards RE investing and setting more aggressive goals I am seeing how much value is on this community. 

Your depreciable basis is what you paid for it 31,500 (less any value allocated to the land), the other information you have provided has no relevance.