Newbie paint and carpet question

[James McGuire]

Hi Newbie here We just bought our first investment property in the neighborhood where we live. It was a Fannie Mae owned 2 Bd 1 Ba condo which we currently have rented out. When we bought the place It had brand new carpeting and paint (probably the cheapest they could find) my question is how often should I expect to have to repaint and put in new carpeting and when I do should I follow Fannie's example and go for the cheapest as well?