If you look at the first picture there is a Vacancy & Credit Allowance just under the Total Gross Income and I've accounted for a 10% loss.

Only you know these facts.One item if you file an amended 2014 you are putting the government potentially at a disadvantage since the normal 3 yr statute of limitations could be expiring soon.

But, as we have said the real problem is the potential maintenance and Capitol Expenditures (CapEx) costs along with vacancies (loss of income)  with these types of properties.You might be better off looking into the possibility of doing a flip with this property.

If there is ever a total loss, you'll be able to recoup your equity and pay off the loan which is all you really need with these very old properties.

Hello Bigger Pockets community.I am looking for advice on how to setup a limited time joint partnership between 3 LLC's.

I have 10k saved. what is the max loan limit you’d suggest for my first property?

If you do not you are exposing yourself to huge potential financial liability or loss. 

Student loan payments have crippled my ability to save, which also limits my options. 

I don't know if you have a specific reason for using an IRA vs. self directed solo 401k - if you can go the 401k route (self employed) then you have some serious benefits such as much higher contribution limits, less reporting requirements, more investment options etc.

What is the annual loan limit?