There is no statutory holding period or list of prescriptive actions that in an of themselves "qualify" a property for 1031 treatment.  

If you buy a property with the intent to hold it then even if you hold it for less than a year it would still be an investment and eligible for capital gains tax treatment or a 1031 exchange. 

In many locations you are no longer permitted to install garburators/garbage disposals due to the adverse impact they have on sewage treatment infrastructure.  

Two of the buildings basically got the full exterior treatment and a total of 4 units got a high end rehab.

Needed improvements will be made to the Montebello Water Filtration Plants, and a new water treatment plant is being designed for Fullerton.Plans to cover the drinking water reservoirs at Lake Ashburton, Druid Lake are ongoing; work is now underway at Guilford.DPW is nearing completion of the BaltiMeter installations to ensure accurate and timely water meter reading.

I do know that accounting requirements will be the same as the treatment to recognize assets is based on international accounting standards, so, sellers beware you may be taxed on a sale without having received enough to pay them.

You just need to factor in the different tax treatments, which is where people considering this option sometimes miss the boat.

If you don't agree with the guidance I cited, may be you can look at this federal register that says the additional cost that can be elected under de minimis is the work performed before placing the property in service.https://www.federalregister.gov/documents/2013/09/19/2013-21756/guidance-regarding-deduction-and-capitalization-of-expenditures-related-to-tangible-property“The final regulations adopt the commenters' suggestions, in part, and clarify the treatment under the de minimis safe harbor of transaction costs and other additional costs of acquiring and producing property subject to the safe harbor…….The final regulations also clarify that additional costs consist of the transaction costs (that is, the facilitative costs under § 1.263(a)-2(f)) of acquiring or producing the property and the costs under § 1.263(a)-2(d) for work performed prior to the date that the unit of tangible property is placed in service.”It says additional cost includes work performed prior to the date that the unit of tangible property is placed in service.

The Met Coucil is not going to allow expansion of the metro due to high infrastructure costs (water treatment, sewers, roads).  

Find out his go-to tax treatment for home office qualification for a landlord.