Your gain and tax is determined by the net sales price ($240K ish) minus the adjust cost basis ( your purchase price plus capital improvements and minus depreciation).A bigger concern though would be that if you are wanting to do a 1031 exchange you probably should not refinance right before a sale. 

Those 10 years of rent more than paid for the improvements 

You can also not improve your stocks and make them worth more.

They are getting big and growing their staff and improving processes. 

what is the mortgage balance, is it current, how many payments back, what are properties selling for in the area (is his price above or below others), *how much seller financing can the seller take,* how much cash above the mortgage would seller accept, how fast does the seller want to get to the settlement table, what repairs or up-dates does the building need - you could ask if you had $10,000 to spendon improvements - what would you spend it on?

The 9 apartment units will be turned over (leases are terminable with 60 days notice) and will receive new kitchens, bathrooms, in-unit laundry and general bldg deferred maintenance improvements.

Is there a tax strategy for using capital gains off the sale of a home to pay off other homes in your portfolio to improve cashflow?

If anyone wants to meet up for coffee, discuss real estate, talk about BiggerPockets and tell me how to improve it, and is willing to come to the Highlands Ranch area, I'd love to meet up and will treat you to coffee/breakfast.

What happens if one wants to spend more for better improvements than the other?

Hi, I am interested in connecting with real estate investment and development companies looking to accelerate due diligence and improve compliance with AI.