Most homes will need something: Paint, new fixtures etc.

Thank you guys, if there is any confusion let me know as I am trying my best to paint the full picture so the best advice can be had.

The cost of repairs and tradesmen seems to have skyrocketed after covid, a simple pest control for ants costs above $250, whole house paint of a 1400 sq ft 3 bed house costs $4k or more, a new HVAC costs about $6k, a plumbing repair costs $200 or more, a new water heater costs $1000-$1500.

For example, another friend painted all the interior wood white on his A frames. 

The trustee did a premature appraisal before staging and before new paint, new carpets, new furnature, and these are the results.House is at Belmont, CA  180deg.

The HOA funds are limited and if something happens, there will likely be a special assessment; roof and/or exterior paint are the big ticket items that are near end of life according to building assessment. 

First floor and the existing bedrooms were just updated with new paint and faux paneling.

Before I answer this question, I think it is important to make sure you know what want and can afford.For me, I wanted a property that was pretty much turn key and required minimal updates (painting or adding washer-dryer) as a buy and hold investment.

I am in Honolulu this week and looked at a foreclosure condo in the towner next to me and HOA is 1300 and the building is working fine..  2 bd 2 ba 1k sq ft nice kitchen and bath just needs carpet and paint opening bid 1.3  persona losing it only had a 750k mortgage the rest is unpaid payments taxs' insurance and HOAs must have lived there 5 years or so making zero payments to anyone.

I painted my place myself using Sherwin Williams paint and it still looks like new after eight years.