Durable and easy to replace if one gets scratched.

Being a tax professional I would say currently it doesn't sound like something you need just yet.

The potential issue is that he may have gotten his interest rate when rates were lower and you may get the deal at a higher interest rate which can potentially have the deal at break even or at a loss.The quality of the deal will depend on what your net income is and what you are putting into the deal.If in the above example and you have the same net income, the deal sounds amazing if you are putting in $200,000 because you have a 10%+ rate of return.But if you are putting in $2,000,000 the deal is horrible because you are making 1%

It sounds like you have a solid strategy in place for scaling up your portfolio quickly with seller financing and focusing on properties that cash flow immediately.

Luckily even with the extra $100 toward principle the last few years I was able to build up reserves that I'm comfortable with but as soon as money has to come out of reserves I'm sure I will use the extra $100 to replace it until I'm back to my waterline and start putting it toward investments again!

And also the contractors - they know what it costs to replace a floor with LVP per sq ft. 

Sounds good, thank you!

About imagining Capex you're looking at two things equipment end of service life replacement costs, including downtime of the unit for turns if there are problems getting the equipment quickly.

With rates dropping, it sounds like a great time to tap into your equity for a new investment.

(Don't quote me), but from what I've heard it sounds like you can move on projects without it, but I do know some lenders require it for hard money loans