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.

Every property I have purchased required plumbing and wire replaced and was sold by a landlord who just gave up.

Anway, I'm mainly attracted to buy/hold positive cash flowing properties, where I would like to build up enough rental income to replace my current income and eventually leg out of my job and do RE full time.

Welcome to land lording,You could replace the items with either a laundry pod or 5 gallon salad spinner and a drying rack.