More equipment means more maintenance.  

Look into low budget renovation projects and equip the properties with appliances that you expect to replace every few years. 

Took me a day of work to research my files and explain to the IRS that only $3K of the bill is for my consulting, which was reported, and the rest is the sale of equipment, reported separately, with the associated COGS.

The equipment (FFE) may also be exchanged under 1031 but only for a much more specific like type equipment.  

Many small units like this have identical units.  

Modernize community with new pool furniture, gym equipment/decors, carports, storage/garages, electric car charging, add smartlocks, thermostats, improve curb appeal, business center upgrades, etc... exit strategy price/unit $194k -> sale price/unit 302k ; exit cap rate 4.75%

Also, be sure to calculate the operating cost of the equipment based on utility usage.

I have learned red flags i.e. high insurance rates, bad areas, old windows, retrofit, COVID tenants etc but really feel still like a ship in the dark without navigation equipment. 

And being a contractor I'm doing so many renovations I try to keep the old equipment on the projects that I'm doing and I put it into storage so if I have a problem I have parts readily available for my repair guy.

Our home comes fully equipped with modern amenities and a tastefully furnished interior.