You will still be able to benefit from the losses whether its set up as a MMLLC or SMLLC since you are married.Main thing to keep in mind from the tax side of things is that MMLLC may have a Form 1065 filing requirement each year and increase your tax prep fees.

You will also need to handle any Closing costs you are responsible for, as well as any inspection fees for inspections that you want to have done.

Normally I'd refinance but I can't let go of that interest rate (especially these days) or else I'd destroy my cashflow. 

Also, depending on the project, you might be able to lock in a good rate before interest rates climb any further.I’d love to hear if anyone else has invested in new construction properties, whether in Indianapolis or elsewhere!

Word on the street is that Split systems (common in . . . . a LOT of places other than the US) operate at a lower energy consumption rate per heating unit and cooling unit. 

Our best rates will be with a 5-4-3-2-1 prepay.

But everything I've read says you can't actually get a HELOC on a rental property in Texas.We're also not really interested in refinancing the Texas home - as we've got a 2.5% rate on it and any refinance at current rents would turn it into a cash-flow negative asset.Anyway - we think if we moved some other investments around we might be able to find the $137K to pay off the loan outright - owning the land. 

You can sell it on a Lease Option, get 10% cash down as an option fee and cash flow the property.

What is your current interest rate on those various lines of credit?

My main issue is the $4816 in fees to take the line out.