How to know if you are over rehabbing property?

[Greg B.]

Hi guys. I have been at this landlording thing for a year now. I began with 3 SFH already rented. Then I bought a vacant SFH and rehabbed it. Had it leased before I finished the cleanup. In Sept I bought an apartment house that has 4 units. This week we finished the rehab on the 2 lower units and they are now leased out. I intend to have the upper units finished and leased around the end on Jan. 2008. I am getting calls now from potential renters wanting to move into my units because mine are "the cleanest we have seen". That quote has come from several callers just this week. I like having people wanting to rent from me even though I have no vacancies.

My question is, what indicators do I use to gage if I am over rehabbing the units?

My intention is to have them clean and fresh. We normally clean, repair, and paint the walls off white. We repair any flooring problems and usually put down vinyl tile. We address any plumbing and electrical problems. We make sure the heaters and the A/C works. We don't put in any frilly items. We just want them clean and secure. Does this sound like I'm doing too much?

Greg