Your basis in your current property is a combination of your basis in the previous property carried over into this property, and the additional cost of this property. 

Renovation included new roof, windows, exterior paint, landscaping, gutters, flooring, interior paint, light fixtures, switches, kitchen remodel, bathroom remodel, washer/dryer and window coverings.

We also ended up replacing an AC unit that was unexpected and re-plumbing the washer hookup box due to a leak.

We also ended up replacing an AC unit that was unexpected and re-plumbing the washer hookup box due to a leak.

Or do I need to combine each of the children and report the total net profit/loss of the parent series LLC?

I would need to be able to remove the source (plug-in or what have you) and air the place out, although it’s not always that easy (carpet cleaning products and dryer sheets tend to be the most problematic for me as they linger).

I agree, the HELOC I just got was 7%, but gave me a combined LTV of 95% with my mortgage.I’m ok paying a little more in interest to have access to more capital.

Certain investors use a combination. 

If they got 75 percent cash out on a refinance that’s $225,000.....you can go to certain areas of the Midwest and put $20k down on 10 different properties.Or maybe they cashed out or borrowed on their 401k.Or maybe they did 10 deals in one year but there were wholesaling or doing notes..... or flipping .... or any combination thereof.  

So I can tell you insurance or repairs or commissions for each property or for all properties combined for the last 20 years (or any certain days in the last 20 years) in less than a minute.