A stove can be run indefinitely once you have a good understanding of them by replacing parts.

@David Starr, The 1031 exchange will be your vehicle to indefinitely defer the tax on that sale. 

The mortgagee can not indefinitely keep you in your home as a primary residence for extend periods of time, but they can tell you if they believe you affirmed to X months or Y years at the modification.

But the deferral is indefinite and can be permanent with the right planning. 

This could allow for relocations/vacation travels in retirement and hold them indefinitely for the next generation.Btw, thank you Dave Foster coordinating my most recent exchange.

Don't forget that your losses carry-forward indefinitely!

I was doing some driving for dollars research and found a property in definite need of work.

A1031 exchange can defer (not avoid) the taxes indefinitely until you sell the replacement property in a taxable sale.

If you use the personal car, make sure to keep detail record so that CPA can prorate the expenses between personal and business.This can include- oil changes, Maintenance, gas, repairs, parking, tolls, and depreciation.

You could refi for $112k, so realistically you're only leaving $18k of the profits in the deal and that $18k is what you'd get stuck paying in taxes on the $70k-$80k anyway, so really, you're not leaving a penny in the deal.By simply holding the property a year or two, selling it and 1031 exchanging it into the next property, and doing this indefinitely through their life, they would never pay taxes on that $80k and continue to make income off it.