Purchase price: $179,000 Cash invested: $15,000 Lived in the property for 1 year.Knocked down living room wall, replaced Hvac, floors and gutted and remodeled the kitchen, attic insulation, converted the living room and the dining area into rooms.

But if you just replaced kitchen cabs and counter without moving any fixtures, and same for bath (left tub alone), then it’s much less work not needing to remove and reinstall Sheetrock, not to mention the plumbing and electrical work. 

If you've done a cost seg before and have broken out your property into 1245 and 1250 property, it would be best to be thoughtful of your replacement property to ensure you'll get full deferral.

replace fixtures, HVAC, paint, and refinish floors.

However, there are some bridge loans that help owners capture some of their equity to buy a replacement property, while listing their current home for sale.

I’d rather terminate due to foundation issues and high possibility I’d have to replace the HVAC in my first year of ownership.

In fact, they stated that the total amount “covers the charge of the replacement purchase and labor to install it under one price.”

things missing in your list (everyone manages differently, so take it with a grain of salt)Vacancy rateTurn overbad debt legal fees (evictions as needed)accounting fees for professional tax prepmaintenanceProperty TaxesSales Tax on PM fees (In NM, this is charged, not sure about where you are)Reserves for replacement CAPEX - furnace, water heaters, ac, roof, parking lot, etc.Admin, software, advertising, etc.Cost segregation study for accelerated depreciation captureAs for your loan. 

I had mold in some cabinets below my sink and it ended up being significantly cheaper to just replace all of the cabinets.

Replaced the carpet with hardwood floors & new trim, painted all the walls, and completely renovated the bathroom What was the outcome?