We are still positive on cash flow, about $400 a month combined. 

KC for example is extremely competitive so you want to make sure the properties you list are a done deal.Oh and value, there's limits on value if you combine properties... unlimited on single.

So if you take title to the property in the first exchange you can't later exchange the second property into it.However, if you can delay the purchase of the property so that it can fall after both sales it is a relatively simple process to combine the two 1031 exchanges. 

Other upgrades I'd consider: matching stainless kitchen appliances, modern kitchen cabinets, and upgrading plumbing fixtures. 

Summary – Key PointsLess is more – More bedrooms does not always relate to higher sales priceNegotiation – It does not matter what a property is listed for on MLS, make an offer based on what will make sense for youUnexpected Expenses – Keep an extra budget always allocated for the unforeseeableWe bought this outdated & desperately in need of modernization 3BR 1BA SFR in Smyrna, GA on February 27th, 2018 off the MLS.

One month rent for Vacancy (8.34%), 12% - 15% combined for CapEx/R&M.Hope it works out good for you.

Let’s say your minimum credit score is 600 and 3x rent.If they make more then that combined and each have credit above that, that’s it.

Funds from your exchange account are combined with hard money to complete the purchase and improvement of the new property. 

If the lots are legally combined, I would think you'd be fine.

If there is no other laundry area I would definitely try to add one, probably combined with the powder room.