"A 1997 law substituted an exclusion of up to $250,000 ($500,000 for a married couple filing jointly) for the old “replacement residence” rules.

You can use "substitution of collateral". 

In the end, each tranche (pool of property) stands on its own, with a deed of trust (or mortgage depending on the state), payment terms/schedule (e.g. 5 yr call, 20 yr amortization), maybe a release clause or other ability to substitute collateral into and out of the pool.

And no, Redfin, Zillow, and other consumer sites do not substitute for the actual MLS, but they can get you by in a pinch.

However, that does not substitute the need for due diligence that we all have to do to achieve our real estate goals.  

You cannot substitute for on ground work, especially not in real estate. 

Not something the majority of other people can say about their jobs in all likelihood.Is plunging into RE going to be able to substitute that?

Am looking for it to cover things as: who covers the cost, how long it would take, a list of items that would be replaced, inspecting it afterwards, item stays after they leave, cost can not be substituted for their rent etc.

We've experienced population growth since 1890 I'm sure yet real estate has remained mostly flat.Coastal areas will boom and bust due to supply constraints but in the long run I would expect them to remain relatively flat as well, see substitution effect.Job growth fine but that's also cyclical and we are probably at or near cycle lows for unemployment.

In some zoning districts, skylights may be substituted for windows.Have two means of egress; whether egress is via window or a door, it must be operable from the inside without the use of keys, tools or special skills.Cannot serve as a passage to another room.Many brokers and leasing agents suggest that a bedroom must also include a closet if it’s to be considered “legal,” but the NYC building code does not include such a requirement."