To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

I do walkthroughs ASAP before end of 10 day period and try to get their quotes for the work needed.

It's more efficient.

Even if the tenants are allergic, they can avoid that area for a short period of time, just like they would do in any outdoor space.

So I go by and sign papers. with a 48hr funding period. but mostly up to the seller's discretion. 

Or maybe use the cash they’re willing to front for a bigger better deal where the cash can get used more efficiently but again, how?

I expect that we will experience another period of extremely low interest rates due to Govt intervention in economic crisis to prop rates. 

only the appreciation gained during the leasing period?

There are options our there that have no seasoning period of ownership for cash our refinances and others that are 3 months.

Currently I am exploring investing in new construction rentals with the goal being to better calculate cash flow at the front end with maintenance/cap ex expenses being low for a prolonged period of time and predictable.