Your 1031 will have to be for the net selling price, not just the amount you clear after paying off any debt. 

Reading those little books that guests and sign and comment in can be very helpful and grounding when you have those times when it seems like guests don't care.

Being a realtor, you already know the area, you know contractors and you know what's happening in the city.

Neither for that matter will a DSCR loan when/if you go to get a full primary home loan for example for the same reasons.

Conversely, the number of small-multi family properties being built is a tiny tiny fraction of the number built from the 1950s-1980s in cities like Phoenix and Mesa.

If you haven't read "The E-Myth Revisited" by Michael Gerber, I highly recommend it.

That said I would start negotiations billing back the full amount of the job to the tenant per their lease agreement and responsibility for the install.

Here's what I've learned:Inspections Are Non-Negotiable: Always get a full inspection, but don’t stop there.Plumbing & Sewer: Have the plumbing and sewer systems checked specifically, as these are common problem areas in older homes.Electrical System: If the inspector flags any electrical concerns, bring in an electrician during the inspection phase for a detailed evaluation.

Have them sign lease at full amount, then give them a monthly rent credit.

I am looking to speak to some people that are knowledgeable about the self-storage market in the Memphis area.