I will list the numbers:current rent $1950/month (going to $2000 in about 6 months at end of 2 yr lease)My expenses: annual taxes $7950 ($662/month)                        Heloc balance $170k interest currently 5%                        land lord policy $1150/ year                        Self managed                        Maintenance : has averaged $300-400 per year.Reasons I am considering sale :   1) property is currently worth about $270k (making me feel roi is low).                                                           2) property has a pool which is a liability that I'm not completely comfortable with.                                                           3) property has a heloc balance against it of about $170k that I technically cannot deduct the interest                                                                       because it wasn't used for the property or any other rental.                                                           4) Tax treatment: my understanding is if you sell it having lived in it 2 out of last 5 years the capital gains                                                                 would be exempt. 

Repairs pertaining to the personal portion are added to your basis.That said, it's important to know the difference between deducting repair expenses and capitalizing improvements on the rental portion.

Couldn't you just deduct money from the previous tenants security deposit towards this?

@Darnell Eason - I have never used PO Boxes/Virtual addresses for any of my LLCs but I know some states wont register an LLC without a physical address.RA costs usually $125/yr and is fully tax deductible so I dont think its a big deal.

@Eric Haug , if the lock is for the AirBNB's room, it is fully deductible, If it for the front door, it is expenses allocable to the common areas which are not deductible. 

This is another variation of what Ryan Evans and Daniel Chow allude to when mentioning "running coax;" this solution only requires a standard network cable from any IT shop.An excellent response to ChopperDad.Joe

Is there is a typical LP/GP structure, with an LLC owning the equity in the property, doesn't the property get depreciation deducted on the income statement, and then there's pre-tax income, then that's taxed at the corporate rate, and then after adjusting for capex, net free cash flow is available for distribution to the partners?

I didn't even skim the grooves or anything.It is probably good to install standard 200 amp service in the property, but that could cost you some money. 

We have a 100 y/o single family buy&hold in Missouri and would like to turn the attic into usable space. ideally we could keep the rafters exposed in keeping with the character of the home, so the standard 6 inch fiberglass would not work. 

Also as an FYI, if the commission percentage is market standard, then the industry standars is for the broker to pass the entire bonus onto the agent.