Don't do it.The utility room just needs different paint (and updating the floor to some other neutral but easy to maintain material is already on your list, I think).I think the new outdoor furniture you're adding- are wonderful choices.

My husband maintains a spreadsheet of expenses and we keep a file of receipts that are scanned to our accountant at tax time.

Suspended LTR depreciation/losses often aren’t lost, they can carry forward and may be released when you sell, so the “can’t use it” point may be overstated.Real estate sale taxes aren’t just 15–20% LTCG: depreciation recapture, possible 3.8% NIIT, and state tax can raise the effective rate.A 1031 has strict deadlines (45 days identify / 180 days close); if you need more time, consider reverse 1031 or a more passive “parking” option like DSTs.STRs can potentially offset W-2 income, but it’s more complex than “100 hours”—material participation rules and documentation matter.Cost segregation can be powerful but only if the deal supports it; it accelerates depreciation and can affect future recapture.Consolidating into fewer properties can reduce operational risk, but watch market/regulatory/insurance volatility.Best next step: compare hold vs sell taxable vs 1031 with full tax/return components (recapture, NIIT, suspended losses, timing risk).Always consult with a CPA who specializes in real estate.

I usually project manage each contractor separately to save costs but am finding it would be just as expensive as a GC to do the whole project.Does anybody have advice on individual contractors v GC in Central / North Jersey and what is more cost effective?

Staying flexible and maintaining clear communication helped keep the work on track.

In deals like this, lenders tend to underwrite much more conservatively, especially on equipment and receivables, since resale value and liquidity are uncertain, so effective LTVs are often lower than borrowers expect.

DIY vs. firm for this price point: a full engineered study from a firm will run $2k+ and likely isn't cost-effective here.

Maybe I have just been through the process so many times I am tired - but buying existing is easier and typically more cost effective, at least in FL. 

This is one of the most effective wealth builders! 

Maintain a shared Google Drive organized by property with dedicated folders for invoices, receipts, and maintenance records.