Repairing damage to the property caused by the tenant or the tenant’s guests (beyond normal wear and tear).Cleaning the rental unit to return it to the same level of cleanliness as when the tenant moved in.Replacing or restoring personal property or appurtenances (fixtures) that were provided by the landlord and damaged or lost during the tenancy.Here's a link to the full California Law: https://www.gowhale.com/security-deposit-laws/california

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

I'm considering new floors, fixtures, countertops, windows, removing popcorn ceilings, etcetera.

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

Upgrades include a fully remodeled kitchen, renovated bathrooms, new durable flooring, contemporary fixtures, and efficient heating and cooling systems.

Fixing a leaky toilet, replacing a broken light fixture, etc. can create good will.

., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

Light Cosmetic ($40 x Sq.

After acquisition, we furnished it, added a couple decks for a hot tub and solo stove fire pit, as well as a ton of string lights and were off to the races!

We are able to get great incentives and the ability to own an investment property that take a very light maintenance budget for the first few years is a huge plus.