I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

Utility Costs (Water, Gas, Electricity):- Paid monthly by the tenant unless included in rent.

The people elected her twice;  the city floods in a medium rain and boil water notices are frequent due to crumbling infrastructure....but they did find enough money for festive lights for the bridge for the Superbowl.

for example when changing cabinets, addressing trim, door pulls. hot water tank replacement: place a pan under it.  

There were exposed water lines and pipes in the rooms and missing doors.

Hey what are you going to do with that lot, or you know it is landlocked, or you know it is unbuildable, or you know that is under water, or whatever? 

Lawn, snow, electric, gas, water ???

Affordability is about 1:3So yeah on the surface it looks like a big difference, but there's a lot of things not controlled for in the stats- There were a crazy amount of houses built in the years just after the war, so housing stock was easy to come by everywhere;- Homes had nowhere near the kind of features they have now - 2 car garages, dishwashers, OTC microwaves, W/D hookups, high efficiency windows, central heat & air conditioning, etc - all those doodads and niceties drive up the cost of housing;- Fewer mortgages were 30 year, so homeowners had to pay (relatively) higher monthly payments;- Rentals were almost exclusively apartments, so there was more supply for buyers;ETCI think these things tend to be more stories that make for good press but aren't really that grounded in reality overall.

Normally we keep 20-30k.So, how old is the water heater?

Hello Everyone,I am questioning whether installing Water Softeners into my rental unit in Mound MN is worth it.