Which Upgrades are Worth a Little Extra Money?

[Account Closed]

As I've been thinking about how much to set aside for CapEx/maintenance expenses, I keep coming back to the questions of: "How much should I really be spending on X?"

It isn't a matter of questioning the percentage of gross rent that I should be saving for those expenditures, nor the raw amount - rather, it's about what upgrades, appliances, physical modifications, etc., truly end up being worth throwing down extra money for in the beginning. 

To give a few examples (but definitely not to limit it to these) - is there value in purchasing a $500 dishwasher rather than a $300 one? $100 or $35 for a faucet? Top-of-the-line water heater or a mid-range unit?

To a certain extent, I recognize that this can be a function of the environment of the rental and the market for which you're aiming - obviously a luxury unit will not have a $350 refrigerator. For this though, try to take that out of the equation. In your experience with rentals, what purchases truly show value over time from a higher price tag (longevity, fewer repairs, power in impressing tenants, or something else)?