Roof you have more time on, but hold long enough and you will be replacing that again, or giving a credit at sale.From there, I look at my return on equity: annual cash flow, including reserves, divided by current equity.  

An HVAC system may have a 20 year life and costs $9000 to replace.

The other guest was a long term stay and I had to replace batteries in the door lock.

When you refinance, the original mortgage on the home is paid off and replaced with the new "cash out" mortgage.

Purchase price: $160,000 Sale price: $202,000 My wife and I wanted to explore flipping a property but since we didn't have experience or a background in construction, we decided we will buy a cosmetic flip which is something that will only require simple changes to the property like replacing carpet, paint, recess lights, cabinets, bathroom tiles and a vanity.

Purchase price: $160,000 Sale price: $202,000 My wife and I wanted to explore flipping a property but since we didn't have experience or a background in construction, we decided we will buy a cosmetic flip which is something that will only require simple changes to the property like replacing carpet, paint, recess lights, cabinets, bathroom tiles and a vanity.

Replacing those if they are in bad condition is thousands.4.

It is a really nice vanity, I may just replace the second bathroom vanity with it. 

Don't fall into the thinking that those tools can replace the property manager.

The seller has been unusually involved with things even after selling the property to me - they let me know today that there was no hot water and they had to replace the heater, and are charging me ~$700.