Over the course of about 3 months I lost 3 tenants on that building but quickly replaced them at a higher amount.

Also, you'll likely need more than one property to replace your current income so you need to acquire multiple properties with the least additional capital.Rents follow property prices, with a 2 to 5 year lag.

Keep in mind, minor fixes (like patching concrete or replacing a broken window) are deductible right away, while bigger upgrades (like finishing the basement) are considered improvements and depreciated.Potential deductions for personal use: If you use part of the basement for managing your rental (like an office) or storage for tools/supplies, you may be able to claim a home office or storage deduction.Advanced tax strategy – Cost Segregation & REPS: A cost segregation study can accelerate depreciation and make certain parts of your basement renovation immediately deductible rather than spread out over decades.

This furniture is going to get lots of use & you do not want to be replacing on a regular basis.

I know Claude.ai can create something that can replace it for free - just need to create it and test it. 

You only regain (free up) those losses when you completely dispose of the rental activity in a fully taxable transaction (e.g., selling the replacement duplex without doing another 1031).

Eventually down the road I'll be replacing cabinets in the kitchen on the main floor, fully update all appliances on each floor and changing the roof from shingle to metal roofing.

So the plumber does a few faucets and toilet replacements that I could easily handle so that when something busts loose on a weekend I can get him out there.

But no market move can replace the inner readiness that fuels decisive action.Ask yourself: Are you just collecting information, or are you preparing your mindset so that when opportunity knocks, you don’t hesitate?

In the process of remodeling a new purchase of 12 units over the next 6-12 months and want to replace all kitchen cabinets.