No income or employment is put on the loan, it is purely rents  versus payments but you must have 30% for down plus closing costs, or negotiate that the seller pay your closing costs. 

It is so hard for me to hold back on not replacing something, just so it looks newer or more trendy (for example, swapping light fixtures and door knobs when the ones there might be okay .... or wanting to swap all switches and outlets to Decora when the standard ones already there just need to be cleaned real good). 

But I do believe they should replace the units before hand or drop the purchase price.

@Steve DudeckTwo requirements to avoid all tax….1) the price replacement property must be greater than the sold property(less actual selling costs)2) you must use All of the cash proceeds from the saleAny retained cash is “boot” and taxed.

The Replacment cost they threw out witch was a very big guess was around 750k.

If I continue to hold the portfolio I will have to start replacing roofs in the near future. 

@Andrew Kensmoe, Its not really going to matter how you purchased the replacement properties. 

You will go to try and replace the outlet and the cloth is all burned.

Have painting, electrical and counter top replacement work for a property.

Long term, my goal is to completely replace the sales income with my personal investments, but short term is also to invest in LTR/STR's in the Fort Myers/Cape Coral area.