As you run your business, you may have to buy a new roof unexpectedly, or replace the hvac system unexpectedly, or replace kitchen items on a turn because they've been destroyed or reached the end of their service life.

I have over 40 years of land development experience as an engineer so I can assess property pretty quickly.Anyway, someone came to me with a couple of off-market properties.

:Hypothetically speaking - let's say someone replaced the countertops in their primary home at the same time they were rehabbing a rental property.

None of this is useful without knowing the age/quality and ease of replacement tenant if it goes dark.

The replacement property doesn't really get depreciated under the 1031 exchange.

They are easy to replace when they break (and they do break) but providing some extra things is a way to attract and keep better tenants. 

Then go price an engineer to do your site plan and foundation. 

I just got quoted 50k to replace the AC system for my 3 family property in central ma. (3 Condensers & two furnaces).

Replaced everything.

Figure out target price of replacement property.