Windows need replacement, upgrade flooring, upgrade kitchen, upgrade all fixtures and fans, and upgrade out side landscape

Flooring will be replaced, ceiling fans added to the bedrooms . . . . do you think the wood paneling woudl work with an updated design? 

But you don't have to keep the replacement investment property as investment forever. 

I’m looking to create enough passive income to be able to replace my family’s W-2 income and return to being self employed and then to create more income and create generational wealth and set it up to support my family in the future as I know they do not have the background or knowledge to operate the empire I am developing.

Doesn't matter if you trade in properties for other properties, the only way out is to replace yourself.  

THANK YOU You probably need multiple lights and will need to recharge or replace batteries regularly.

As @Elijah Friedeman said, you should add money in for CapEx which are any major things that need to be updated/replaced.

He has other cash flowing properties and lives a frugal lifestyle so he does not seem too concerned about replacing the income from this property or have much plan for the proceeds of this sale.

I did find that the roof was damaged and needed replacing.

I invest to replace income, build generational wealth, creating an income funnel, and improve the community around meI like the search and the hunt, acquire a great property, and turning it to something great that no one saw otherwiseIP I look for a deal that makes sense that has a good tenant class, good appreciation, and solid returns (8/10% cash/cash)An agent has to have very good market knowledge, understand the local geographical attributes, and has a good relationship with their network