Worse yet, since these categories constantly change, if you don't go in and update your choice every 3 months, you only get the flat 1% cashback. 

My partner was a roof and truss designer and hated flat roofs.Tarps are a useless choice as a long term solution to a leak. 

Is there another choice? 

You could...but it's probably more beneficial to get a separate loan on that triplex....unless you are thinking it would help you in some way that we aren't thinking of?  

@Derek KroegerYour first choice should be to find a CPA that specializes in real estate taxation and one that is local.

Keep in mind with rates dropping on cash out refinances since they reduced the LLPA hit a cash out refinance may be a better choice over a HELOC.  

I like the approach, But I think there are a lot of other more financially beneficial homes to do this too in Atlanta.

Definitely seems like starting an entity before making an investment could be highly beneficial to my situation.

I was initially thinking one of the light gray vinyl plank choices, but wondering if that would clash with the existing flooring at the transition (by the breakfast bar in the photos) Any advice would be appreciated!

While this may seem beneficial, it's quite counterintuitive and hurts them in the long run.