Repair the small items and credit us $8,000 for the AC replacement 3.

Regarding using 1031 here is the timing requirement:  Measured from when the relinquished property closes, the Exchangor has 45 days to nominate (identify) potential replacement properties and 180 days to acquire the replacement property.

I wouldn't sell this property to replace it in the Tracy area.

Or at least that have been replaced in the last 2 years.

Hello!
I'm in process of rehabbing the top floor of a duplex (this unit is 4 BR / 2 BA about 1500 SF) with plan to refinance and keep as a long term buy/hold rental. We acquired tenants downstairs - they're on a M2M ...

Instead of wasting your money you might want to print out the harmful effect of not replacing the filter for residents and make sure the tenants always get a copy and warning,     Also you can take it a step further and you can-write it in the lease that "if the filters are not replaced regularly tenant understand that this will cause a $300 repair bill at the end of tenancy, where tech or HVAC cleaning co. needs to come out and clean the system."

I have an out dated porch in need of repair that I wanted to replace before the appraisal, cost of materials has really slowed progress.

I'm keen to refinance and build a 3rd smaller rental suite under the existing house as it's on a hill and there's a small workshop space with some rock retaining wall that needs to be replaced with concrete foundation anyway.

Mrinal,First, the umbrella does not replace the need for the the Liability on the underlying properties. 

Let's assume you have to replace floors every 10 years.