Landlords - renting out a house with basic improvements?

[Chris T.]

Morning BP.  I tried searching for this and didn't find much discussion. 

Has any landlords out there, on BP, that did the minimum updates, and market their rentals for under market rent?

Definitely NOT slum lord standards, but renovating the house to meet basic safety standards - to code. (e.g. new mechanical systems, HVAC, hot water tank, flooring, paint etc) But NOT thoroughly rehabbing it (e.g. new kitchen w/ granite, new bathrooms, new plumbing, electrical, windows etc)

Personally, I have always rehabbed my rentals nicely, and asked for higher market rents. But that took more time rehabbing, and more time filling in vacancies. 

What if I did the minimum, and charge under market rent but fill vacancy faster? I can think of a quite a few PROs and CONs doing this. 

Looking for a HEALTHY discussion please. Thank you in advance.