The value of making improvements on long-term rental properties

[Marc Peterman]

I have several questions in trying to understand when to update my rental and the metrics to use to compare and assess. 

Is it worth replacing the carpet with LVP or should I just replace the carpet on my long-term rental? Does LVP help increase the rent value for a 23-year-old home located in the Enterprise/Daleville, Alabama area? What are metrics that can help capture the value and return when comparing rental updates? 

What other updates usually bring more rental value to the home?

Thanks in advance for everyone's recommendations.