Just make sure you’re prepared to cover any shortfalls on that property and have a strong plan for deploying the new capital effectively.

It has always been dictated by my bank or in 2 cases by my lawyer when other people were involved. 

Hard to say what the effect would be on doing either without details, but I'd recommend not trying to do both of those in the same year (unless you have enough cash saved up for at least a 20% down payment on the investment property). 

This quick flip was a testament to our effective approach in Pleasant Hill.

Based off our lease agreement, my lawyer says that it is the responsibility of each tenant to repair their own space.

This goes into effect Jan. 1st, but the state has not figured out the particulars and the license is not available yet. 

Definitely check in with your lawyer to make sure everything’s above board, but these steps should help you handle the situation while keeping the tenant relationship intact.Hope this helps!

Are there ways to address this concern or to communicate the value of these unique features to the appraiser effectively—without overstepping?

For RE owners, death allows you to pass assets to your heirs and step up in basis, effectively eliminating recapture.

If it’s cost effective I’d tile but then it will be more labor intensive/expensive if/when you have to replace it.