I asked for a lower quote from the contractor, but the PM said "everything in the bid is absolutely necessary" they cut about $900 off to clean/reinstall some light fixtures.

"I'd put that in the same bin with "We need to spend money on infrastructure" braggadocio by politicians to get elected.In effect, it'll prob be like stimulus check for $1B OR got 10 years back - It'll go in the GenFund, and then 80% will go to PERS (aka the budget blackhole).That's the problem is they're a good idea but mostly are "lets cut a check" and don't audit effectiveness.

Your rent here or elsewhere would need to cover the HELOC payments, so it may cut into the cashflow in the short term, but if the house is going to keep appreciating this will let you keep the asset.Another benefit to the HELOC is you don't have the same time restrictions as the 1031.

Refinance those down to cut interest rate in half. 

Just take into consideration and try to find quotes for:-lenth of trench needing dug (service line to home)-water line and other materials required-labor for what you dont want to do-grass seed etc to restore yard-extra $ for when you cut thru something when digging that wasn't marked

We also argue about how there are many things in the basements that if tampered with could cause a safety issue for them and their neighbors such as the heating and hot water systems.

I would focus on cash flow and select a rental property where there is a margin of safety between what your mortgage payment is and the estimated rental rate.  

.* (Donor Bank Statements are required for FHA loans Only)*If the most recent 30-day bank statement does not include the deposited gift check, we will also need an internet printout showing the transaction history between the cut-off date of the last bank statement through the date when the check clears your account.This is a bona fide gift and there is no obligation, expressed or implied, to repay this sum at any time.Furthermore, these funds were not made available to me/us from any person or entity with an interestin the sale of the property including the seller, real estate agent or broker, builder, loan officer, or anyother entity associated with them.

B) Recommend protecting the kitchen and bathroom outlets withGFCI type for safety.6) PLUMBING: A) The water supply pipes are galvanized, copper and plastic.

I have a plumber who just started business that I helped get started in business so I get a cut rate.