Bought 100+ yr duplex - how much to fix up before renting?

[Robert Simpson]

We have just purchased a 110 year old duplex in Oak Park, IL to house hack. There are obvious repairs, like brick work and rotted siding, that will make the investment last.

But what about more cosmetic repairs? To what extent should you put money into an old house to make it more appealing to renters? Obviously the more money you sink, although rents might be slightly higher, your cash on cash ROI goes down. We also want to repeat this in 1 year, so spending our cash delays when we can repeat this!

Any thoughts and insights to share here?