Boot includes any cash retained or the difference if the replacement property is of lower value than the relinquished property.

Replace it with a normal fridge.

Your property is fairly destruction proof, costs near nothing to maintain, yet you can charge above market rents.If your property is nicer (class B) where the carpet alone might be $6k or more to replace when the tenant spills hair dye everywhere, you won't be as happy as in the situation above.  

We replaced what we would have fixed if we were buying the house ourselves.

I already have 2 loans on the property with great interest rates that I'm not looking to replace.

Essentially, your new replacement property will consist of (1) a thirty plus year ground lease on the real property you already own; and (2) new capital improvements made on the real property you already own pursuant to the new thirty plus year ground lease.

Imagine investing in all new, beautiful finishes, only to discover that the drain pipes are faulty and need to be replaced—an issue that could have been identified and addressed beforehand.

We have seen maintenance costs skyrocket over the past 2-3 years and every case is different but here are some general guidelines for reputable (non-crackhead) investor level pricing in our area of operations:Furnace and A/C replacement with lineset for standard 3 bed 1 bath bungalow.

The bathroom and kitchen were replaced.

We don't need sprinklers here, but if we would, I'd either do that or replace the lawn with gravel or something else maintenance free.