Cosmetic updates including paint (inside & out), flooring throughout, some updated light fixtures and hardware.

With that budget, you could do a complete esthetic renovation, with updated plumbing and electrical fixtures.

Also, reduced expenses by negotiating with waste removal, converting all exterior and common area light fixtures to LED and tighter property management overall. 

Here’s a breakdown of what I did and the costs: Labor. 29,176.53   - New Railing and Spindles– Exterior of House- Remove damaged flooring- Refinish and Stain Hardwood Flooring- Install Vinyl Plank Flooring on Floor 2- Install ceramic tile flooring in baths and Unit #1 kitchen- Paint Interior (Walls / Ceiling / Trim)- Install New Kitchen Cabinets Unit #1- Paint Kitchen Cabinets Unit #2- Subway tile kitchen backsplash and Unit #1 shower- New Plumbing throughout house toilets / sinks / garbage disposals / tubs / faucets- Install new light fixtures and recess lighting in kitchens- New doorknobs and hinges throughout- Replace electrical outlets and switches Materials - 2 Apts (Home Depot)...............$8,201.93Stainless Steel Appliances – 2 Apts (Lowes)....$3,300.00Quartz Counters – 2 Apts ............. $1,800.00Electrical repair / rewiring ............ $2,696.20Replace hot water heater................ $1,025.00Install Central Air Conditioning and upgrade heat........ $9,000.00TOTAL............... $55,199.69Gross Rents: $2,125.

Once you know the houses in your area pretty well, using those 25 components makes it a lot easier to estimate back-of-the-napkin.For example, I know that for a specific type of four bedroom, two bath house in my area, it costs about $2,000 for all new electrical fixtures, about $2,000 for all new plumbing fixtures, about $3,000 for interior paint, about $7,000 for new flooring, about $8,000 for new cabinets and countertops, about $2,500 for all new appliances and about $1,000 for miscellaneous cosmetic stuff.So, when I walk into one of those houses, I know right off the bat that I will spend about $25,000 for a full cosmetic rehab.But that exact same scope of work for a different type of house with different finishes in another state where I rehab would cost much different for a cosmetic rehab. 

We would love to take anyone who has done something similar recently out for a cup of coffee to chat and maybe get some advice for things to consider when investing in this area + general tips & tricks for first-time landlords and how to get off to a good start with our real estate investment ambitions.Best,Hampus & Julia

These include the inspection/due diligence period, the inspection objection deadline and negotiating any inspection issues, the financing clause, title work, what comes with the property i.e. fixtures etc.

This is a common dilemma for the self managing part time handyman landlord.Here are few other "easy" ones IMO and in no particular order:ToiletsDrywall repair (small)Jammed garbage disposalsPilot lights and thermocouples.Rubik's cubesSwitches and outlets.Light fixtures and ceiling fans.

BP community, feel free to reach out if anyone else would like to connect, discuss an opportunity, or just go and get a classic "cup of coffee"!

When every you get a new sink cabinet, pour 4 cups of epoxy into the base of the sink cabinet.