@Geoffrey Flowers I'm pretty sure those expenses would be incurred at some point.

Everyone else's recommendations of sloping the earth next to your walls away from the house (can be accomplished with flower beds near the walls - avoid plants w/ long roots like trees), adding/fixing gutters, extending roof overhangs, and subterranean drainage are all steps to take to decrease water infiltration.Nowadays we ideally insulate and waterproof our basements from the outside - but that's more work than it's worth for a flip.

Grounds maintenance: How much money, should you commit to grounds maintenance, landscaping, trees, bushes, plants, flowers, etc?

Line that front walk with bright flowers.

Improvement costs look simple enough on paper but try taking your wife to any home improvement store and you are going to come home with flowers, bushes, closet shelf units, paint - you name it.

If there is something the tenant has indicated they would like to do to "make it their own home", such as putting up flower boxes under the windows, painting a room a color of their choice, etc.

My understanding from the real estate agent is that the person to whom it affects it the most ends up doing it.So since this unit is on the top flower, it's owner will end up doing all the roof work.But there is not much of other common area besides the stairs and main entrance.

The subject property's landscaping is in average shape for the neighborhood, minor improvements such as flowers in the beds near the front and new mulch will add to the curb appeal.  

Then cosmetically, go cheap on new flooring and paint, because that will all have to be redone when you are ready to sell.When it is time to sell, you remove the tenant damaged flooring, upgrade to better stuff, add some pots of flowers, do a new paint job, and it should be close to ready to go back on the market.Oh, and screen your applicants very carefully.

Phil F.to answer your question the areas I am accustomed to purchasing in are either working class or urban neighborhoods such as Fountain Square, Bates Hendricks, Drexel Garden, Emerson Heights, Little Flower, Old Southside, Irvington.