For instance, if you upgrade the AC to the tune of $8800 and you can increase your cash flow $4800 per year ($400 per month) that may be worth it.

Unless the tenant vandalized the property your rental insurance pays for damages from such instance.

Those will exhibit the opposite of an inclined business cycle.I believe that an Investor can intelligently determine whether then business cycle will be inclined, declined or just horizontal by understanding what happens to their particlar neighborhood during the down cyle part of the business cycle.For instance, in the downturn, it is normal for Cities to lose money, and therefore cut services.

For instance, if you live in an urban core with a high walkscore, you will probably see a good return on investment because the new space will be in high demand to rent and purchase.

For instance you mentioned you're interested in wholesaling and mutlifamily investing.

It needs lots of work on the house and I’m sure some areas are not permitted, for instance they added a bathroom to the garage.

For instance, I just purchased a 19 unit deal in Berwyn, which is an area I invest in quite a bit.

For instance: Comps, what are the uses by different professionals?

Where it can become really tricky is that I have heard of one instance where the delinquent owners didn't file the exemption then after the sale and 6 month period were able to claim some reason as to why they weren't able to file the exemption and were able to get their property back after improvements were made.The court does require that anyone redeeming a property pay 25% interest on the purchase price plus expenses to maintain and secure the property (not upgrades).

I don't know the numbers on the house of the OP but in my instance, I'm unmarried and if I sold the gains would be more than 250K so doing a 1031 is the only option for me.