Thanks for the tip! 

Where an exchanger will purchase multiple replacements. 

If you want to sell a property and keep deferring that tax by NOT recapturing the depreciation, you can do a 1031 exchange where the proceeds are held by a licensed intermediary for a short time while you identify and close on a replacement property.

The HOA takes care of everything outside of the studs and I save enough to just replace anything that breaks and skip the repairs. 

Now my focus is on heavy rehab mix use/ multi-families that can be delivered below replacement costs and  $400/sf+ outsale new construction opportunities.

Even if your goal is to replace a W2 income, that only works long term if you are making money.  

Are you sure you are not just doing replacement therapy and you really should be buying a property? 

And in second, setting up a "plan Z" where if all else fails what does get "burned to the ground" is replaceable, and the wealth center is protected on it's "asset island". 

It’s guaranteed that you will need to replace roofs, HVACs, appliances and many other components.

We also had to replace two rotten walls and some rotten floor joist and subfloor.