Terminology for "Upside Potential" / "Renovations for ++$"?

[Cathy Malmrose]

Hi, I'm about to put a quad on the market that has been pulling $31k /year in NET profit but could be pulling more with a few more renovations. For the buyer I am submitting: 

1.  a 2020 P&L

2.  a list of the renovations I have done to the building from 2019-current -- what is this called? 

3.  a list of what could still be done to pull in another $5k/year -- what is this called? 

An example for #3 -- for about $600 the basement can be divided into storage unit areas, locked doors for the tenants and that pulls in an extra $100 per tenant who opts in / who wants to rent one. 

Help? Buyer wants the lists yesterday. Of course. 

[Cathy Malmrose]

@Wyatt Franta yes, it's the Upside Potential I'm referring to. There isn't any deferred maintenance. I went into this as a fun project to stay busy in retirement and I had money to burn. I didn't necessarily want to see how much I was spending and I'm having a hard time going back over receipts. Yes, I hope the market is strong enough that I'll find a buyer who can see they're getting a well-renovated property that won't need work for quite a while. I want to include the upside potential because I have already worked on permits, approvals and contractors.