Surface renovations, with no mechanical updates or major issues will cost me 50k minimum.Now that 2% will often be stale MLS listings, that I feel I can get significantly below current list price.  

The tenant vacated in 32 days and earned some money.Don't give any thought to a security deposit refund, as all surfaces will be exhausted from normal wear and tear.

For instance, an classic surface capex might increase the market value more than the expenss of performing the maintenace.

Hi Micheal,If it were mine.HUD gives a 15 year service life for cabinet tops.For instance if the age is 10 years, meaning 5 years (33.3%) of the service life leftI would charge for 33.3% of the cost of the replacement (parts and labor) that I had to write a check for.Owner labor is typically not billed, because you don't cut yourself a check for the labor.Make a point of telling new renters not to put hot pots or irons on the new surface (they probably didn't know any better).Here is a service life list for you.  

I've had surface level intro into Real Estate, both through research and through real life experience.

With renters being hard on things, I prefer hard surfaces such as LVP and refinished wood floors.

If your property manager is handling it in a a timely fashion, let them do their job. 

I'd only get involved with flipping if you can handle the risk and you have a team who is able to get it done in a timely fashion.

. $400,000 total), someone could buy a 16-unit building for $5.46M and renovate to be all in for under $6M with finishing surfaces close to what you are proposing for your new construction.Now, if this allows them to achieve the same rents as what you are proposing, then you can clearly see the problem - their valuation, all things equal will be same as yours.

That seems like quite a deal from the surface.