Do certain properties need upgrades in order to maximize rent potential?

It did need some upgrades, but I'm definitely out of pocket a lot on this one to turn it back into an STR. 

Hey @Chris GarnesI just came across your post, and it immediately reminded me of a project I handled with a colleague in San Diego, Dennis Bragg - https://www.biggerpockets.com/business/page/3607  - You’re sitting on some serious potential with these two properties, and your plan to step back from construction while finishing them makes total sense.For Home 1, with no mortgage and a prime design upgrade underway, you’ve got flexibility that most investors would envy.

The property seems to be in good shape and will requirecosmetic rehab.  5/3 house 2600 SQFTWe will need a new AC, Kitchen upgrade, bathroom upgrade, flooring, painting, andcarpet upstairs.  

Quote from @Timothy Lawrence: Hello All,Today is the day I decided to upgrade myself from being a lurker to being an actual poster.

It’s worth calculating the total investment (purchase price + wiring replacement) and comparing it to what the property could yield after the upgrade.

Also, check if there are incentives or rebates for upgrading to more energy-efficient systems in your area. 

We can start with permitting - between software upgrades / changes - reviewers that have rejected plans because of a slope in a shower on a mastered plan, the sheer volume of builds the city has been dealing with - it's been taking much longer than anticipated. 

Spending on expensive upgrades is not the answer to improve your tenant base in this type of area.Keep the homes habitable, clean, and safe. 

After buying these new rentals, he will still have about $90k in cash to spend on upgrades and furnishings.