@Will Gaston I would suggest you at least get it inspected and see what the worst case number would be and then reassess.I would reevaluate numbers - if you bring in $8900 per month, and have to allocate the recommended 50% in expenses, and $3300 in PITI, you are bringing in $1150 with so many properties to deal with. 

Hello,You should have the security deposit allocated to a specific business account. 

I mean do I consider it as a regular loan/mortgage and set a certain amortization period to be able to calculate monthly HELOC interest  payment, and allocate as % to the "principal payment"?  

Also for everyone else on this thread, I totally get that cash on cash return as a % would be maximized by allocating this money across multiple REIs.

Thanks all for the input - I've never set one up before but I imagine you can create properties and track from that perspective plus the overall rental business (ex. some expenses get allocated amongst multiple properties)?

If the answer is "yes", ask them how they allocate acquisitions between the fund and individual mandates.

I would seek out a 4plex and allocate units as follows to achieve diversification 1.

Or, something to give you guidance on how much you should allocate to each asset class?

As for equities, unless you want to be a hawk at this, I would suggest a common fund allocation- large cap, mid cap, small cap, growth, value, divy, etc. and have it weighted towards the bigger one's and just not worry about the ups & downs.

I don't see how they can justify allocating relatively no value to these assets in effort to try to avoid income taxes...