I approach it like this: everything needs replaced at some point.  

Water heater(s) replacement is a no-brainer.

But if you have a brand new roof, a brand new water heater, etc. then you shouldn't have to replace those in the first few years after owning.

You'd never hear this for an A class rental and likely not hear it for B class units either.Providing these appliances can bring in higher rent, but it can also come with the liability to repair/replace.

Search youtube for replacing whatever piece is broken, should be able to find a good video in a couple minutes. 

People are willing to sell for pennies on the dollar, so the “But and hold” philosophy really gets replaced with “Buy low, sell high”.

I recently sold a rental property and would like to try and defer all or part of the proceeds. i dont want to exchange into another self managed property...would like to take a break from landlordingthank youWhich markets would you be open to considering for the replacement property? 

What happens when the furnace goes out and you have to pay another $6,000 to replace it?

A deck builder build a deck I will have to rebuild soon and a roofer cost me $7000 to rip his new roof off to replace with right away since he installed so badly.

If you don't know the cost to replace a roof you better start learning.