Here's a breakdown based on your examples:Carpet, Vinyl Flooring, New Toilet, New Vanity, New Tub: These items are typically considered assets because they are permanent improvements to the property that provide lasting benefits.Plumber Labor for remodel: Labor costs for installation or repairs are generally categorized separately from materials.

As it relates to your roof, windows, doors, hardwood or vinyl flooring you should expect a serious issue to present itself every 5 years. 

Some specific examples include careless installation of vinyl flooring in our kitchen, resulting in irreparable damage; leaving an exposed nail in remodeled kitchen cabinetry that scratched our new range; installation of bathroom sinks with improper plumbing connections; and multiple instances of failure to remove cigarette butts, food trash, and construction waste from our property.

I would also explore how much work it would be to move that white cabinet from the left side to the right side including replacing the floor underneath because it probably is not vinyl.

Full new paint, new flooring (vinyl plank vs carpet), new cabinets, countertops, fixtures, sinks, tubs, lighting, basic rental grade appliances, etc.

I would look into pvc, or even maybe tpo replacements before doing a band -aid solution like this. 

As a new property manager I’d like to be on top of that if someone asks me, what I suggest would look the best and be the best in their rental units.I had an awesome property manager who would buy the modern nice looking flooring in bulk so when his owners needed to rehab a unit he sold them the modern vinyl plank flooring for cheap.

Furnace is about 5 years old, new vinyl flooring upstairs and downstairs, and new vinyl windows.

I’m considering using materials such as wood, PVC, conduit, or metal pipes, combined with canvas, tarp, or plastic for the covering.

I recommend "bulletproofing" your property if any updates need to be made, such as waterproof luxury vinyl flooring.