Are you using the IP Address filter and selecting IPV4 Range filter type?
I would use the IP Address filter and the 'Simple' filter type unless you truly have a large range of contiguous addresses.
You can have one rule per IP address or something like this:
The Include would look like this: "192.168.1.1","192.168.1.2", "192.168.3"
Then I would have a Log to File action. The path and file name would be something like C:\logs\%Hostname.txt. %Hostname is an Auto-split variable that will use the hostname(or IP address if there is no hostname) to generate the file name. I prefer this over the IP Address Auto-split because it handles both hostname and IP address.
Any other actions(displays, etc)
The last action would be 'Stop Processing'.
This will generate 1 file for each IP Address.
The default rule does not need any filters/excludes for these IP addresses. The Stop processing command in the prior rule(s) will prevent them from hitting the next rule.