With a basis of $138k and only $1,000 monthly rent, your well below the 1% rule (a basic back-of-the-envelope calculation used by investors to quickly determine a go or no-go decision). 

Greatly appreciated and hope I'm not bending any rules by asking.   

First three rules of real estate investing: location, location, location. + Location: the only thing about a house you can't change.

It may take a few years.  2 turnkey properties I purchased in 2014 appreciated 50% over the last 4 years. 

If you mortgage yourself up to 50% then try for a new loan or a HELOC that is where you will be stopped.....but if you have the HELOC and its not being used as kind of a in case of emergencies then you will be okay if you find a great deal you could then use that money. 

So, I come up with 25% for six months or 50% annualized.     

There isn't *no* case law, just less than the Traditional LLC--simply because Traditional LLCs exist in all 50 states and there are established vulnerabilities to these entities.

Apparently ccioa rules do not apply here.

Properties #1 and #3 are cash flow negative if I use the 50% rule. 

@Anthony Wick yes I’m able to take 50%.