Smart spending of remodel dollars
Just bought our second rental house. Like the first it is a college student rental so it turns over every one or two years but should stay 100% rented given the location. The first house was fairly turn-key but this one needs some work.
The house has a fairly small kitchen and 3 baths. All of this needs some degree of upgrading but I cannot replace everything. I need to stick to a firm rehab budget of 13k for kitchen and baths.
I guess my question is where do I get the most bang for the buck? Baths or kitchens? Counters or cabinets? Appliances? Flooring?
My initial thought is college kids want a clean and working bathroom and appliances that work. They are not as wowed by a fancy kitchen.
Thanks for any advice offered.