'House Hacking'

[Michael Nichols]

So I'm currently in my first house for just over a year and we have poured a decent amount of money into it. Replacing things like carpet with hardwood, painting, about to remodel the bathroom and things of that nature. We had initially planned to sell in about 5-7 yrs and roll that equity into our new home, and purchase rentals after that. However it seems the amount I'm likely to throw at this house with the rest of the renovations won't be realized when I sell(Over building the neighborhood). 

So basically we have switched gears to prepping this house for rental space when we move, and was wondering what I should focus on as far as renovations are concerned. 

This is an older house, knob & tube wiring, which will obviously need updated for their safety. Do you guys have any other feedback in terms of sustainability of the rental for an older home?