I inherited a few properties, One in particular is a duplex. I want to increase the number of rentals that i have and would like to use the capital from this one for another as well as shore up some personal stuff. Now, I've looked into 1031 but I won't be paying capitals gains on this because my step up in basis was to high. So we have to list it lower than what my basis was.
No to my real question. the building was built in 1989 and the bathrooms or kitchens haven't been updated since. Should I renovate these myself? Or should I leave that equity for the future buyer? I would like to know which strategy makes this a more appealing property?