I all ways fix all mechanical  issues  on all rentals .Fact I do stuff that some  flippers on here would not do .Hot water tank that is over 10 year old I change it out .Now my labor cost is very friendly same plumber for 30 years .HVAC units, I will not leave  a run out sled on a rental and hope for the best .I am a long term holder so it makes sense .

So, in order to have some mechanical control over market risk we can improve the location, improve the vintage, or improve the asset.

I’ve been researching the market aswel as I am a recent mechanical engineering graduate of UF.

If I am renting the property then I will want structure, mechanicals, and finishes to be updated, to get a higher rent. 

The mechanism that is used when you do sell after moving out and converting the property to investment is that you sell the investment property (former primary) and take $500K in boot. 

Of course be sure of title with respect to mechanics liens.

It will be handy once we lose 100% depreciation. 3) Section 179 is also expanded to include Roofs, HVAC,  Alarm, and security system for nonresidential buildings. 4) 100% bonus depreciation for qualified property (not buildings).5) A like-kind exchange is still available for Real properties, not personal properties (auto, equipment) with the new law.  6) If you have RE Trade or business as C-corp, the tax rate is now flat 21% and you dont pay any AMT taxes on top of your regular taxes. 

Obviously, the mechanicals and roof need to be replaced, that should be in your negotiations.

My wife and I are looking to get back into real estate investing for monthly cash flow so one day I can quit my 8-5 job as mechanic.

I need to have a mechanical inspection done, but I am afraid that anyone new coming onboard will want to FIND something to fix, prior to any inspection.Any help from the community will help.