I am about to acquire a quadplex. One unit is vacant that had a long term tenant. The unit is a 2br/1.5 bath and two story. This is in a C class area. The huge difference is in the current condition I can get rent $650 with rent ready/clean $750 (market rate). I dont want to go above and beyond with like back splash and granite tops. But, I want to make it somewhere the tenant can be proud to call home and want to stay longterm.
The unit is in decent condition but needs to be completely repainted, clean tile, paint handrail, stair paint/touchup. Other than that no hard change. I heard from my PM to expect 2-3k.
Any idea what this might run me at? How to go about getting quote? Is getting quote the PM job? How many quotes should I get? What should I look for in contractors? Can I hire cheap off craiglist thr job is mostly paint. How long should I expect the work to reasonably take?
Also, what mistakes or do you wish you would have done in your first "rent ready".
Thank you BP family!