The part I really didn't like when I first heard about home warranties was that they would repair things until they couldn't anymore then finally recommend replacement and that I don't feel would always make sense.

@Matthew ShayThere is a direct correlation between those two variables, however when you start getting into the price/unit as well as price/sqft you're really getting into replacement cost.

The roof is really old and definitely needs work if not replacing.

You should not sell your property until you have performed complete due diligence on one or two potential replacement properties to complete your 1031 exchange.

If it has carpet plan on replacing it in 5 to 7 years.

Where I invest there is also an attorney approval contingency, so sometimes as long as I can get into the property the next day I can make a sight unseen offer even with no engineers inspection contingency, get it accepted and then do my walk through the next day. 

I replaced all flooring with laminate wood flooring, gutted and refinished the upstairs full bath, repainted the unit, and repaired all other smaller issues with the unit.

I replaced all flooring with laminate wood flooring, gutted and refinished the upstairs full bath, repainted the unit, and repaired all other smaller issues with the unit.

I currently have 8 single family properties that work perfectly fine so this was my first multi-familyThe Details16 unit, 1 bed 1 bath apartment building in Oklahoma City$750k asking price got it for $650k5.35% IR, 25% down, 10 years balloon amortized 20 years. property management 7%The property was in ok conditions, fully occupied, rents were between $425 and $500, we had to evict 2 tenants who kept their units filthy and were problematic (roaches and dirty) RemodelWe're fixing up those 2 properties, replacing the floors with laminate, new granite counter tops, new split unit HVAC and new bathroom and paint.

We are replacing the kitchen in back house right now, prior to first tenant.