What Type of renovations do you guys do when purchasing SFH LTR?

[Nader Hachem]

I'm looking to build out a spreadsheet when i can get a preliminary renovation cost that i could use in my analysis when looking at single family long-term rentals. What types of renovations do you guys see yourself doing when first purchasing the property? I've got things like:

Paint, replacing carpets, installing LVP (will calculate those by SF), replacing cabinets, installing countertops, purchasing appliances (washer, dryer, fridge, etc.), hot water heater, roof

I'm sure there a lot of obvious things that I'm missing and would like to hear them all. My goal with this spreadsheet is to calculate an upfront cost after walking through the property. This would better help me run my numbers.

Thanks all

[Jaron Walling]

This is a case by case situation and really an open ended question. Every rental property starts out in ____ condition. If the countertops are nice, undamaged, and don't have 10 layers of paint replacing them is a WASTE OF CASH. Same goes for the cabinets, flooring, bathroom vanities, and tub. On the flip side if you don't have a kitchen or bath (most expensive rooms) I'd review your analysis and calculate a budget to remodel it effectively. 

If you plan to buy and hold for 10+ years some of it will get damaged, destroyed, or worn out in that time. Unless comparable rentals in the neighborhood justify high end finishes usually it's a bad idea to install them. I really focus on breakable issues like sink drains, doors locks, HVAC maintenance/replacement, outlets, water heaters, and the roof. Fixing what breaks BEFORE it breaks is peace of mind. It's not always possible but that's what reserves are for. 

Your opinion of LVP is spot on. In my opinion carpet sucks. It the cheapest flooring possible but you'll replace every 4-5 years. We clean units for unit turn overs and the investors I work with usually pull the carpets and replace with something more durable and trendy.