I don't count reserves for vacancy, cap ex, or routine repairs as part of my cashflow because they go into separate subaccounts (virtual) from my cash flow that I can use for purchasing other properties or to pay down debt. 

It had a huge profit margin and mostly cosmetic work, priced very low even for an REO.

I can call out from my cell and the number that shows up on the caller id is the number that they originally called.This way I can tell if I am getting a call for an emergency, rental, or routine call. 

But now it is part of my routine. 

Sadly, this project will end, and I will be back to the routine.

Hi Raj,The exact technical requirement is that you must buy one or more replacement properties with a total/combined purchase price (purchase price plus routine purchase expenses) that are equal to or greater than your net sale price (gross sale price less your routine selling expenses), and you must reinvest all of your net proceeds/cash/equity generated by the sale of your relinquished property.

The roof was replaced two years ago, but the property does need some cosmetic rehab. 

Hello everyone,  I'm looking for some feedback regarding deciding what to do with cosmetic changes.  

The second unit, with an asking price which was higher than mine, had major issues, both cosmetic and structural.Keep looking, you will find something.

Since you are quite a distance from the property, you would do well to hire the services of a professional property manager, unless you are able to manage the property from afar and have the chance to visit the property at least twice a year for routine property checks.