Due to the likelihood of needing to replace AC and/or furnaces in the next 5 years, there will probably be another year or two of near zero cash flow at some point.When I bought these houses, the neighborhoods had a lot of rental homes, but were still desirable affordable neighborhoods.

Completely renovated main level:* Demoed and redid kitchen with new appliances* Refinished floors and reglazed bathroom* Replaced the roofComplete demoed and finished the basement and landscaping* Replaced half bath with full and added 2 bedrooms* Replaced entire plumbing including sewer line* Added second washer dryer* installed stamped concrete patio and walkway plus fence* All new landscapingWhat was the outcome?

Your "goal" right now is to replace your income, but you don't know enough about investing and the risk is too great.

Let your STR start making money before adding cost in replacing the flooring.  

The exterior we removed all sheeting and replaced everything and installed vinyl to update it.

Financial freedom goes beyond simply replacing your current income—it's about sustaining your lifestyle for life.

Identify any items that need replacing.2. 

Another expense is replacing items that are broken, stolen, or worn out over time. 

Just based off statistics the vast majority of people (nevermind the vast majority of RE investors) will never replace their W2 income w/ RE income.

Replacement Cost policies.Basic vs.