I am in the market for replacing my carpet and the cost for carpeting 1,100 SF is $8,000.  

The local casino just replaced free charging with 50c/kwh (4-10x the home price.) when they figured out people were just leaving their car there to charge while they went home.

You also want to make sure you have Replacement Value so that if anything catastrophic happens you can rebuild.

When you go to buy a new set if you have budgeted for it, you can smile and know you got 50% more out of those tires even though you now have to pay a big chunk of money to replace them.

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?

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants.

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

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

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