With this said, I would never do this for a rental so this is a rental (tenant moved out) that I plan on selling using a 1031 exchange on soon and the garage floor has lots of cracks and stains so I want to make the floor look nicer.  

I would strongly urge you if you have time to read or listen to Real Estate by the Numbers by Dave Meyer & J Scott because they do a great job of explaining the various numbers and metrics used to make decisions in real estate, it has helped me reframe financial and real estate decisions because I understand the concepts and feel more empowered because of that understanding.The two factors in your decision here are financial and (maybe more importantly) emotional.

Honestly we could afford to go negative monthly without a huge financial burden.

@Don NicolussiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

This allowed our partner, Ron Rowan, to focus on executing the deal without worrying about the financial burden, ensuring a smooth and profitable transaction.

Bought in 2022 (not due to COVID STR frenzy, its also personal use and plan to never sell) at peak interest rates and we are profitable even with one weekend/mo of personal use. 

The person I sold it to made $40k weeks later doing nothing to the property but listing it on the MLS.All because he had more leverage.He knew I was in a tight situation financially and took advantage of me.He turned me into a motivated seller.

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We see this type of situation a lot with REIs and I've experienced this myself as an REI.Keep personal personal and business business as far as entities, ownership of assets, and financial accounts go. 

Every city has specific requirements that plans must be formatted to.