Why are you looking at the whole cost as an expense this year? The bath tub may cost $3,000 to replace, but it's going to last 30 years. Mentally viewing it as a $3,000 cost this year and having zero free cash flow this year is the mistake. If it lasts 30 years, then it costs $100 a year. You should be applying a $100 cost of this item to each year. Big expenses happen. So it wiped out your FCF for a year. BFD. You need to spread that cost over the life of the improvement.