CapEx refers to significant investments made to maintain, improve, or upgrade a property over its lifespan.

Still usable, but you could get some efficiencies by upgrading, and it will cost you $4mm over the next couple years. 

Do you foresee new building materials that could be more eco-friendly and affordable?

If it's steady, your job is to make it more steady by spending to do the repairs and upgrades early, not late, and then capitalizing long-term on that in rent.

If not, then they got approval to upgrade.

Scope of Work:Initial Assessment: Our team conducts a thorough assessment of the property to evaluate its current condition, identify structural issues, and determine the scope of renovation required.Design Concept: Collaborating with architects and designers, we develop a design concept that blends contemporary elements with the historic character of the row house, maximizing space utilization and optimizing layout efficiency.Structural Repairs: Structural repairs and reinforcements are undertaken to ensure the integrity and stability of the building, addressing any foundation issues, roof leaks, or structural deficiencies.Interior Renovation: The interior of the row house is completely renovated, including the removal of non-load-bearing walls to create open-concept living spaces, installation of new flooring, upgrading electrical and plumbing systems, and installing energy-efficient fixtures and appliances.Kitchen and Bath Remodeling: The kitchen and bathrooms are transformed with modern finishes, custom cabinetry, quartz countertops, and high-end appliances, creating functional and stylish spaces for daily living and entertaining.Historic Preservation: Special care is taken to preserve and restore original architectural features such as exposed brick walls, decorative moldings, and hardwood floors, enhancing the property's historic charm and character.Exterior Enhancements: The exterior of the row house receives a facelift with fresh paint, repaired masonry, restored windows, and landscaping improvements, enhancing curb appeal and contributing to the overall aesthetic appeal of the neighborhood.Quality Assurance: Throughout the renovation process, our team adheres to strict quality control measures and standards, ensuring that workmanship meets or exceeds industry best practices and building codes.Finishing Touches: The finishing touches, including interior decor, lighting fixtures, and hardware, are carefully selected to complement the design aesthetic and create a cohesive and inviting atmosphere.Timeline and Budget:The single-family flip project in the Philadelphia row house is estimated to be completed within [timeline], with a budget of [budget].

She stayed 6 years & when she left we also found that she had upgraded all the outlet covers, toilets, lighting & all faucets at her expense.

After the 6 months we will need to navigate that as we plan to make upgrades to the unit and raise the rent.

For example asking for minor upgrades to the unit but in a way that blurs the relationship boundaries.

You will have cash to do upgrades right away.