Updated some of the units kitchens cabinets, replaced with granite counters and appliances, added a backyard and window to sliding door conversion on primary unit.

The day we met to get the keys we discovered she also left all the high end appliances (oven appeared unused) & garden tractor etc etc. 

New appliances, backsplash, painted cabinets, and hardware in the kitchen. 

@Will DixonWe put about 30k improvement into it over the years (roof hvac flooring appliance renovation etc) will I be able to fully offset those against the gain?

As in - if you want to take an aggressive position and are not afraid to defend it in case you're audited, then...Here is one possible answer, out of many that could come out of a thorough analysis.the apartments can be considered in service since Oct 2018, so you can probably deduct your entire mortgage interest and your entire holding costs such as taxes and insurancerehab costs should be allocated to the different parts of the property as much as possibleonce each respective part of the property is ready to be placed in service, its portion of the rehab kicks insome pieces of that partial rehab, like appliances and carpets, could be immediately deductedother parts (which is possibly most of the rehab) will have to be slowly depreciated over 27.5 years for the residential units and 39 yours for the shopsonly some work specific to the apartments might qualify as repairs, and it has be evaluated by a tax proYes, it's complicated.

Other than that, the house was already setup to look good and rent well (new interior paint, painted cabinets, stainless steel appliances, etc).

It needs upgrading: kitchen (incl appliances), two bathrooms, and entire flooring, will also add w/d in unit. 

Even IF you have new appliances along with a home/builder warranty, THINGS WILL GO WRONG.

I use American Home Shield to cover major home systems HVAC, plumbing, appliances, electrical, etc that is about $45 per month.Rent collected: $850Recurring monthly: Mortgage (PIT): $299HOA:  $19AHS: $ 45No managment fee'sCash flow monthly: $312

Caused by:(1) Freezing of a plumbing, heating, air conditioning or automatic fire protective sprinkler system or of a household appliance, or by discharge, leakage or overflow from within the system or appliance caused by freezing.