If they don't, it might be time for a new accountant.

I say amateur, because although I have had multiple SFR rentals for nearly 15 years I was new to the multi-plexs and new to the area that I was buying. 

Most likely just needs a new internal thermostat or the tenant is an idiot and is causing the burned food.

Quote from @Jackson Ebersole: Hi Piper,It's always smart to flip properties in-state, and I'd like to share some updated insights on why this approach is beneficial, especially in the New Jersey area.Lenders typically feel more comfortable with in-state flips because:You can manage the rehab more easilyYou have better knowledge of local real estate trends and valuesYou can respond quickly to issues or make decisions fasterThere's a lower risk of fraud or being taken advantage of by distant partnersI can help you with recommendations for the New Jersey market:North Bergen: Continues to show strong potential, with average profits now around $150,000 per flip and a gross ROI of 85%.Willingboro: While specific flip numbers aren't available, the market remains active with a gross ROI now averaging around 130%.Gloucester City: Still a top performer, with gross ROI hovering around 180-190%, though still on smaller profit margins.Irvington: Home values have continued to rise, with a 20% increase over the past two years.East Orange: Has seen steady growth, with home values up by about 16% since 2022.Paterson: Experienced a 14% increase in home values over the last two years.Additionally, Jersey City and Newark have emerged as promising markets for flips, with strong appreciation rates and growing demand.

I'm a first-time investor and my rental property needs a new kitchen and new flooring.

You are new, so you don't have a pool of contractors, or know what things really cost, or what a scope of work truly entails and if you are getting fair bids or not.  

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

It makes more sense for him to sell them and get into something new that will at least break even. 

Also, considering that new propositions may pass that would limit/restrict future increases.Look forward to hearing from landlords, investors, previous/current renters and anyone else to help me determine what to do. 

I’m currently based in Denver, CO, but I’ll be relocating to Raleigh, NC in July 2025 to start working full-time as a disposition agent for New Western.Since I have some time before my move, I want to get a head start on building my business and positioning myself for success in Raleigh.