Between paint and flooring that are sometimes needed, and months of vacancy, it would take me YEARS to recoup those losses even with new rent increases.

One BP community member I got lunch with yesterday told me successful flippers avoid minor cosmetic repairs such as paint, trim, floors, etc. due to a glut of investors all trying to do the same.

Because when the renter leaves and the unit is turned that shelter is done out to be cleaned or painted and the cleaners can see immediately if there is something in that shelf that needs to be tossed.Good Luck!

If you are okay with someone painting over your original woodwork (even though the lease says they can't) or ruining your marble countertops when they dye their hair (true stories) then you may be emotionally hardened enough to rent your original home that you have lovingly designed.Consider, also that at times you will have to carry two large mortgage payments and decide if you are willing to do that.

Anyway, code enforcement asked to see the inside of the apartment & i agreed as i was doing some improvements inside like painting etc.....afterwards he nailed a red tag to my wall which i didnt pay much attention to because I was literally unaware of what it was or what it meant.

Live there for a little while I paint it and get repairs done and then rent it out. 

After the initial set up, I go to my STR before the busy season to take inventory of linens and consumables like soap etc, replace or repair linens or small items, touch up paint, and get my eyes on the property to make sure everything is in good repair. 

Fresh landscaping, new paint, new layout, add a bath, a room, a garage, finish the basement, new roof, kitchen etc are just some ways to add 20,30,40K to the value with sometimes minimal investment.

If anyone out there is looking for trusted trades in HVAC, Electrical, Roofing, Foundatio, Framing, Painting, Drywall, Cleaners, Junk Removal, etc., let me know.

Two wooden steps and paint charged us $550.