If you made a $10,000 improvement to an existing property in 2019, this improvement is a new asset (separate from the original purchase of the property), and you start depreciating it in 2019.

Will the units have separate meters for water, power or gas? 

Easy money2) because you can use the three in one technique: you can list each unit separately and then you can create a third listing that includes both units combined.

Do I need to make a separate tax return for my LLC? 

@James Wise As a regular citizen in Texas I just have to keep it in a separate account from my personal funds, which is where my tenants security deposit is kept.

Is he charging his tenants for utilities with a the RUBS systems or is everything separately metered?

Being educated and taking initiative is what separates us.

I've setup two separate bank accounts for each LLC and money has been flowing to them since the creation.

however if the SFH is all above grade it will be how well its converted and units are divided.. personal on a converted duplex I would prefer a side by side vs upper lower split because having a tenant above you with potentially lousy structure floors is super annoying for the lower tenants.. being split with a party wall is much better and also the fact if there are separate utilities.. 

Keep your rehab receipts separate.