Primarily, assisting with turning rental properties (I would like to be the point man for scheduling and setting up painting, carpet cleaning, minor repairs, etc.).

My agent said the bring in $2200/mth but have no other debt or payments.They are stressed about having to move (it would stress me out facing packing all that stuff up) and willing to pay more to be able to stay.I feel we just screen them like new tenants and if references check out I'm leaning towards continuing with them, although they are below the 3x rent income requirement.The property would probably need $3-5k in carpet and paint to ready for new renters so it would he great to have a good built in tenant for a while.Anyone have a situation like this go bad that can share some things to watch out for??

I do not want to put in carpet but would consider it.My problem is I don't know how to gauge what my floors need.

We're preparing for a new tenant,  and our property manager has asked us to do about $9000 in repairs, including carpet replacement (3 years old,  but it's got some filthy spots), replacing polybutelene plumbing,  and of course repainting and patch work.

If there is a fire, they will rebuild the building, but you would need to put the kitchen, bath, carpet, etc back into place.General Liability covers you against slip and fall types of lawsuits.Both coverage's will probably cost you $150-$250 per year for both.You should try to add this one unit to your personal auto and home owners policy. 

The house probably needs paint and carpet to get new tenants as well as a good cleaning and it would be vacant while all that happens and we search for new tenants.  

Our "How to Choose a Property Manager” handout is available upon request from me, StacyA McBain, Kelly Turpin of Swope Investment Properties who presented on this topic at AVID.12.Handyman /ContractorDIY MANAGERS ALSO NEED CONTACTS THAT PROPERTY MANAGERS MAINTAIN:PainterRoofer Cleaner - Tips and products: Don Aslett cleaning supplies Concrete/Excavation Carpet Cleaner - Pressure washer for exterior, full-service janitorialMold RemediationChimney Pest ControlAppliance RepairFlooringSupplies HVAC PlumberElectricianLandscaper/sprinkler techAssessor’s officeGutter cleaners

I had my first residence -- a tract home in a subdivision -- built when I was only 21 years old, but while everyone else in the neighborhood was picking brick and siding and paint and carpet that made them personally happy, I was only thinking about what the next buyer might like.

Some examples of improvements include: a new deck, storm windows/doors, wall-to-wall carpeting, duct work, and insulationHere is link to a great forum discussion regarding this topic of Cap Ex vs Expenses: https://www.biggerpockets.com/forums/51/topics/70013-techniques-to-report-capital-improvements-as-repairs

It's when you signed a contract for carpet flooring, change your mind, and now want to tile it.