With $6m you may need to purchase several properties especially if you need to replace debt as well.

For me I would need about 20 rental units each cashflowing $100 to replace my 9-5 job.

I'm redoing a rental.We've replaced the subfloor and are going to put vinyl plank flooring. 

We saved money by repairing the old wood windows instead of replacing them.

I've also asked about making use of the existing well/septic, although I anticipate on simply replacing same with the new construction.Our counties aren't very modern -- while tax info is available online, I still have to go to the courthouse to research any other liens/judgements against the current owner to see if there are hidden claims to the property.  

No ventilation, no fan, nothing but a great mold growing medium.The building inspector had issued a permit for the remodel and plumbing and other things like a roof replacement. 

The space is actually very nice and modern.

In a 1031 exchange any type of investment real estate can be sold and replaced by any other type of real estate investment. 

The rest of them are spot on - modern homes bring higher values, 2 car garages, views, amenities, and the age old - location, location, location.

Over the last 5 years, we've updated the bathrooms, kitchen, new shingles, replaces all inside doors, ran a gas line to the stove, replaces facia and other details costing us approximately $25,000.