What I'm hearing is that you are selling two investment lots and want to exchange into an avocado farm and want to make some improvements to that productive farm. 

Your best bet is to find a multi-family property that is mis-managed, has below-market rents, or needs to be renovated; then you can take the steps necessary to improve its performance.

If I need to replace the roof on this property, chances are I'll need 2-3 years of that CAPEX number set aside to do so.If you're only socking away 10% of 500 rent, that is $600 a year.

I can only speak to seeing Ryaan's work from following along on Instagram because I haven't yet had the chance to work with him (I'm hoping to on some upcoming projects) but you can tell he takes great pride in his work and he definitely cares about his clients.

But the master bedroom is probably the best option if I do decide to improve this home before I flip it.Damp control??

If your convictions were a long time ago and you have been a model citizen since then you have a chance.

Chances are that this will not close until they put their stamp of approval.Brian

You could make as much money managing property for others without investing the money to buy your property.Costs like turnover costs and reserves for capital improvements may not happen this year or even next but if you are not planning for them they can sink you.

A prospective Lease-to Purchase was lined up to occupy the home and cover the mortgage payments in many variations of this scheme a portion of the kick back money was supposed to "protect the Investor" some of the bolder operators actually marketed this a a second chance opportunity for the cash rich and credit poor (People with income that was "difficult" to document) The rapidly appreciating markets allowed for substantial "equity spreads" the source of the "kick back money." i.e the FMV is 100K the seller has 45K into the property and would be happy with netting 18K profit, the change goes to paying all the closing costs and a gratuity to the buyer.

So, after replacing some carpet, painting the whole place, and some other minor improvents, here's where I'm at.Expenses $9600 (including everything but mortgage)Income $17300Expenses=55% of gross rentsDuplex 2I've owned for 8 years, and it was 3 years old at the time of purchase and needed nothing but a little touch up painting at the time.Expenses $31200 (including everything but mortgage)Income $104200Expenses=30% of gross rentsTotal expenses between the two = 34% I do expect this number to go up a as the property that is now 11 years old starts to need more repairs.