How much to put into a rehab?

[Patrick Sears]

Here’s the scenario:

1940's 4/2 $30,000 HUD home located in rapidly turning around inner city area with new construction homes going up all around it ($140-$180k range)

If my plan is to BRRRR the home, would you go all out now i.e., replace roof & siding (a few years left in them), 2-zone heat a/c, all new windows (originals still there) and generally take care of the big ticket items now while interest rates are low for the permanent financing, or would you go as cheap as possible to pay down the purchase quicker, while risking getting nickeled and dimed (usually this means out-of-pocket) on repairs for and well as more expensive refinancing in the future?

I’m thinking $30k-$40k all out for nice rental or flip, or $15k-$20k for cheapo renter.

BTW: I earn above the cut-off for passive income deductions, so all of my rental write-offs are carried over instead of put in my pocket :-(

Thoughts?