I have built my entire portfolio on using other peoples money, seller financing, and other creative strategies to bring in money through real estate.

From my perspective splitting utilities helps to show everyone has an equal stake in the property rather then incorporating it into the rent and removes the impression that you don't contribute to all the bills. 

Any creative ideas on turning it around or mitigating the -CF? 

Less then conventional on this one, but getting creative to put together.

I agree wtih Ehsan that this is a numbers game and that you should invest some of your cash flow into finding your next property.You need to get a bit creative when it comes to your marketing to find property to buy.

Perhaps you could get creative with some sort of sub lease situation as well on a larger home with a MIL. 

Does anyone have any creative ideas to go beyond this?

I'll have to get creative.

We are wondering if we should transfer the New York residence or incorporate it into our LLC that we have for the Florida rental property so that we can receive a larger line of credit to use as properties become available for purchase.

When I walked out of that office, people had smirks on their faces expecting me to be back in Corporate America within 3 months because ya know, "it's tough out there, 90% of startups fail, real estate is risky and the list goes on".