After 12 years, it will need to be repainted anyhow and if there is carpet, that will need to be changed out.

@Christopher Phillips repairs included new carpet and repaint throughout a 2,300 sq/ft home and roughly $1,000 to remove junk left by the tenant just to name a few. 

If they've been there for 5 years (and if they were good tenants), then you might have to repaint anyhow in which case I wouldn't care about smaller holes.

I'm not sure if you could get by doing something like this, but, I had it under contract already, but the VA wouldn't let me close until the entire exterior had been repainted, so I just put in it that I would have it repainted but if the seller backed out then they would pay me for the painting.

Hello BP family, i currently live in my primary residence which i purchased in 2014 the home is a registered as a 3 bed 2 bath with many updates new roof in 2016, new A/C unit in 2018, new windows in 2019, repainted the exterior and new flooring in 2020. i currently owe $154,000.00 on current mortgage.

I was planning to chisel them out into a "V" shape, then use a flexible sanded caulking for repairs, and then repaint the house.

Repainted walls?

Overall this investment worked out well for my investors and I, but would have been a sweetheart deal if we didn't have to pay the extra $40k.Work we on property was remodel majority of the units, replaced all windows, replaced maybe 1/2 the sliding doors on deck, repaired and repainted siding and stairwell.

We remodeled a majority of the units, replaced all windows, replaced maybe 1/2 the sliding doors on deck, repaired and repainted siding and stairwell.

I see this all the time with Landlords that let their tenants paint in exchange for rent, only to discover the tenant did a terrible job or used bad colors and the owner has to pay to repaint.