Tax payer is defined as the entity that reports the activity of the property on it's tax return. 

Replacing the vinyl will rarely qualify because I am sure it will be greater than 1) Lesser of 2% of your basis in the property or $10k  for a small taxpayer safe harbor. 2)  a $2500 to qualify for a de minimis safe harbor, if replacing would qualify, usually not being a structural component of a building.  

I don’t know that there is a defined policy stating how frequently you have to physically occupy the property or how many nights you ha e to sleep there - maybe you like to go camping a lot, or maybe you travel for work, but you do have to call the place home for a while...

Now, the plan to put all those goals into action was a little harder to define, but again I wanted to start small.

The chip recession of the 1980s was its worst up to that point in its history (subsequent chip recessions have been worse, but not much worse).The strategies and methods I developed became my money habits that define who I am today.

@Brad Taylor - In Chicago we use the word "flat" to define how many units. 

@Carlos Martinez Define resources and define what type of commercial real estate you're interested in.

(Which for this region is usually defined as breaks even for a recently purchased asset).  

It might be ideal if you get a long term tenant that is a real wear and tear specialist, one that squeezes the last useful life out of all the components... then out with the old, in with the new...Best of luck!

@Brian Garlington She definitely doesn't have to be anywhere near the big tourists areas and i can definately take on the duties of a property manager for her, but i think after awhile i would just hire someone else to do because i don't want to her worry too much about that stuff either.