The good news is that these units can get rented for many years without anyone moving out and costs for rental turn is pretty much $0. 

So, I failed to find a replacement property and couple of days ago my CPA shares the news with me that because of the 800k mortgage debt I had on the property I am subject to pay capital gains taxes on the debt?

https://funds.homeunion.com/offering/fix-and-flip-...https://www.businesswire.com/news/home/20180402005...Sounds interesting, they are giving 8% return as per the site.

This is all obviously not your wheelhouse, and that's not good.The good news is that your primary worry here, wondering about the life expectancy of the boilers, is probably ungrounded.

Sorry to be the bearer of bad news... but I do often see 4-unit buildings in SE DC that might be in your price range ($600k to $800k) and you can use residential financing that will allow you to get into the property with less money down. 

@Joanna Golden the bad news is it sounds like no expenses to claim this year.

Interesting to watch.https://www.bloomberg.com/news/articles/2018-09-18...

I hate to be the barer of bad news but financing you very first flip is one of the very worse things you could do simply because of murphy's law and if anything goes wrong with your flip you are still on the hook for paying back your loan and once you get a black make on your credit it will take years to erase that off your record if at all.

@Ben Bymaster I just came across this article shared on LinkedIn and thought of this thread. https://www.bisnow.com/national/news/commercial-real-estate/in-the-changing-world-of-commercial-real-estate-a-college-degree-is-now-a-requirement-93019#ath

The good news is that once you establish a track record, you often have more money than you can deploy.