The saving grace of this home, all the natural woodwork was kept in remarkable condition AND since the home is in the flight path of the airport, 5 years ago Mitchell International came in and replaced all the windows, exterior doors, installed 2 new furnaces, 2 new central air units, basement dehumidifiers, and water heaters. 

I'm open to doing rehab, but my overall goal is definitely to buy and hold indefinitely (until it makes sense to sell of course) as I look to this being an income replacer. 

@Susan Kim-Laubach, from the date of your sale you have 45 days to identify your potential replacement properties (there's some rules to that as well). 

My area it is $6 sf to replace. $24000/10 year life span/12 months in a year = $200 per month for 1 item.

This is very common in Southern California, and developers have been pumping out new construction left & right to replace the current market that's filled with old, deteriorating buildings from the 1960s. 

New tenant claims that they replaced the bulb in the downstairs bathroom and it flickered and so did the lights in the hallways outside of the bathroom.

It has been difficult for them to be out and about searching for Replacement Properties.

One unit upstairs rents for $450.00 one bedroom one bath. 2 units on the Ground floor rents for $500.00 each . both have two bedrooms and one bath.Roof replaced in 2019 , leach field replaced in 2019.

Like I said, I first invested 2 hour drive south of where i live Fairfield Iowa, once i got a handyman, property manager, plumber, HVAC and electriction there that I trust (where NOT the cheapest), I only went to the units 2 times in 2019 and that was because I had PTO days to use and was being cheap about having someone else install a dishwasher and oven.So cashflow per month is your goal to replace expenses and then replace income. 

In my area it is $6 sf to replace. 2000 sf *$6 sf =$12000/10 year life span/12 months in a year= $100 per month for 1 item.