Hey guys , just closed on a property and need some advice.The house is all tiled but was built in the 40's and the floor is real "bouncy" in different parts with some tile cracking also.  I believe it is because they ...

It was easier to replace the entire side of the roof , than chase down 6 leaks .

You can absolutely sell one or more relinquished properties and exchange into one or more replacement properties. 

My first and only rental was built in 1969 and the chiminey is in dire need of "repointing", sealing, bricks replaced, etc.

A video might be a nice add-on but it's not a replacement. 

That is unless the property is in very poor condition or one that has not had these large ticket items replaced since construction. 

Figure out how much each would cost to completely replace, where you are in their life span and plan accordingly. 

Lately, the 50K, 60-65K three-units I've come across are in higher tax areas (around $3800 annually) AND they need substantial rehab, like a total roof replacement.

Sorry, if some of the answers seem redundant.WHAT YOU REALLY WANT TO KNOW IS AVERAGE NIGHTS OCCUPIED OVER THE YEAR, AVERAGE RATE, AND EXPENSES (CLEANING, PROP MGMT, REPLACING LINENS, NORMAL MAINT, ETC..)Do NOT use 10% vacancy as a worst-case scenario for vacation rental after figuring out which months can be rented. 90% is a very high occupancy rate, even if you're just talking about a 1 or 2 day gap between rentals due to timing of coming-going..

Only place carpet in the bedrooms, this way if you have to replace one room then you can have your Handy man do one room, and nothing needs to be seemed.