Maintenance budget credit to equity?

[Jack B.]

It's commonly accepted that principal pay down is really profit, even if not Cash on Cash, as it is still a credit to your asset column. Why doesn't that logic extend to maintenance dollars budgeted from the rental revenue?

Yes, that money is debited but it should really be credited as well because it adds value to your asset column, no?

If I use that money to paint the house and put in new flooring, a roof, etc. it is adding value to my house. So should one really consider it an expense with no return?