He is going to put the capital in to make the necessary upgrades in the place.

Technological Enhancements: What technology upgrades have you made to improve the efficiency and customer service of your business, and what impact have these had on your sales and customer satisfaction?

I rocked a Garmin Edge 520 for years but recently upgraded to an 830.

The dreaded compressor death on an old AC unit is forcing me into a full system upgrade.

.- It needed a community face lift and re-brand (was called windmill apartments....yuck.)We came in and strategically worked our business plan:- We upgraded the exterior including fresh paint, signage, and landscaping.- We removed delinquent tenants and changed the community standards around to provide a safe and clean place of living.- We've upgraded 75% of the units with fresh flooring, paint, cabinets, countertops, and appliances as needed.When we took over the property the 16 units were producing around $9000/month in gross rent.I just checked our rent roll today, and we just crossed $17,000 in gross income monthly!

My concerns are genuine in that I think flipping is a great way to upgrade Americas dilapidated housing stock and make money.

You need to make any offers contingent on a sworn rent roll and a general contractor’s estimate of repairs and upgrades.

I think once you do it full time as your primary source of income, then it probably would be advisable to upgrade and get some software. 

You mentioned a house price of 400K and a monthly rent of 2.5K  If we calculate based on these figures, then your rental yield is only 6.25% (2.5K*12/400K)(2.5K×12)/400K×100% = 6.25% Generally speaking, an ideal rental yield is around 8%-10%Consider renovating and upgrading to increase rental income or using financial tools such as mortgages to optimize cash flow.

The family upgrade, the "just because" bigger home buyer, the empty nester downgrades, the 2nd home, etc are choosing to wait and see, due to news of inflation and interest rates.