You are required by law to find a replacement tenant as quickly as possible and then refund any unused rent income.

Over time as rental income replaces earned w2 income, if one spouse quits their W-2 job to focus on real estate, that spouse could qualify as a real estate professional, allowing you to use real estate losses to offset the other spouse’s W-2 income.

On a 1960s building we always replace all galvanized plumbing during the initial rehab, that''s not even a question. 

Similarly for the master bathroom, I want to only replace the existing vanity with a new one, keeping the current light yellow tiles.

It isn't currently good enough to replace programmers, but it is being used by knowledgeable ones to become more efficient, and with they knowledge that they need to double check everything presented.

I had to upgrade the waterlines to 3/4 (ripping out the wall, retiling) and replace the drain line with metal pipe, (dig up floor, plumb, concrete, retile).  

In the old days, grandpa would buy the shingles and spend his week of vacation from the factory replacing the roof when it was needed.

Asking price: $399kRehab: $65kARV: 570k The roof was replaced in 2024, the water heater in 2019, HVAC in 2019.The house looks to be in good condition..., but will need some cosmetic repairs. 

These are gentrifying neighborhoods where development is rampant and properties are selling at a price point above replacement cost.

For example let's say you have an older home with plaster walls, your contractor will replace them with drywall at a fraction of the cost but the insurance covers the cost to replace with plaster which could be thousands of dollars more.