Since Friday we've completed demo work, replaced a floor joist, and removed an ugly and useless wall (other than being load-bearing, that is) to open the floor plan.

My goal is to replace my 40-hour job with passive income from buy and hold SFHs and/or small multiple-family properties.

We even replaced all of the duct work to make sure there wasn't any remnants of the smell.  

Landlord must show proof of cost estimate for replacing the carpet (~ $300) and must return the rest to the tenant.

Obviously septic tanks are expensive to repair, old A/C and roofs need to be replaced, etc.

(i.e. replacing carpet with hardwood floors).Ultimately I'm trying to see if it's better to sell the house or to do a 1031 exchange for a multi-unit in couple years.

Would upgrading an older 12+ year old central HVAC unit, (lets say a heat pump to higher efficient heat pump replacement) be a cost that could be recouped at sale?

We closed on 4/7.It took my guys just over 3 weeks, to add an unofficial 3rd bedroom, paint the place head to toe, redo half the flooring (home depot allure flooring at $.99 i'm a huge fan), take care of a bunch of exterior maintenance issues, put in new appliances, do some minor kitchen work, replace the hot water heater, couple of other small things.

Determine what information you want, which data fields will need to be created and populated later for your mailings.Here's my challenge for you: will you do this until you get a deal flow or will probate be another shiny object opportunity that is replaced by the next distraction?

Suspended passive activity losses are deferred when the investor structures the sale of their investment property as part of a 1031 Exchange and trades into replacement property that is of equal or greater in value.The investor may wish to complete a partial 1031 Exchange by trading down in value or pulling some cash out of the transaction in order to utilize (recognize) the suspended passive activity losses.