Then when you refi out of the hard money loan into a 30 year loan you would do the same thing except amortize it over 30 years this time.Also, what if you are in a 30 year loan with a higher rate and refi to another 30 year loan with a lower rate, do you keep both 30 year loan origination amortized assets going for 30 years, or you can fully depreciate the first 30 year because you have replaced that 30 year asset with a new 30 year asset?

I knew I was going to have to get the roof replaced, but this looks like a major project to take on and I am new at RE.

I am doing tile surround so I'll need a tub that will last so I dont have to replace the tiles for a long time.

Hi @Josh Freeman, No, the sale of the 40 +/- acres would need to be reinvested into other real estate (replacement property) to qualify for 1031 Exchange treatment. 

Once accessed that’s another seven $100k properties in my market (Ohio) that will cash flow $300 per month per door (units are $30k to $40k per door/$35k average so if four are triplexes at $900 cash flow/$3,600 net per month and three are duplexes at $600 cash flow/$1,800 net per month that’s an additional $5,400 net income per month in addition to our $3,000 now which just about gets us to our financial freedom goal of replacing our W2 incomes of $9k per month and covering all expenses.

Generally replacing only flooring does not require a permit unless you have to replace or repair underlayment.When you get your permit, be sure to keep those photos showing that this addition has been in existence since long before you ever bought the house. 

I am going to replace roof, but there is some type of mold on sheathing ?

Year three required a water heater replacement.

@Michelle VerdugoIt sounds like you got it.A refinance it taking an existing mortgage and "replacing" it with another mortgage for the same principal amount, the amount that is outstanding/owed. 

I do only rental rehabs taking a 1975+ split level 3/2 and just causemetic;  paint, fixtures, flooring, new HVAC, rarely a roof, never windows,  paint the kitchen cabinets with new hardware, clean up baths, just clean up landscaping, fix things beyond replacing all ceiling and plumbing fixtures (except shower valves) and this has grown to $25k is now tight