I usually do not even engage on Bigger Pockets but I could not resist because your bad attitude and misleading numbers were very upsetting     

Saw a house with a For Sale by Owner sign in a yard with tall grass and after some drama, we have a house.We have dealt with long term rentals for over 15 years, but not aggressively ( keep them rented and do some improvements ).This "old house" needs, updated HVAC, new roof, new kitchen, some broken windows, upgraded electrical, water run off issues...I'm just starting to clear the house out with multiple dumpsters and starting to get quotes.  

If so, self managing might be a good fit for you.I'm more of a "path of least resistance" person, so if I can pay someone else to do it, I usually will. 

These expenditures are capitalized, meaning they are added to the property's basis and depreciated over time.Examples of Capital ExpendituresBuilding Additions: Adding a new room, deck, or other structural improvements.Major Renovations: Remodeling a kitchen or bathroom, replacing the roof, or significant electrical and plumbing upgrades.Appliance Replacement: Installing new HVAC systems, water heaters, or other major appliances.Structural Repairs: Replacing the foundation or significant repairs to the building’s structure.Labor CostsLabor Costs: The costs paid to contractors, electricians, plumbers, carpenters, and other professionals involved in the renovation are part of capital expenditures.Example of Capital Expenditures with LaborSuppose you renovate a rental property, including a new kitchen and bathroom.Materials: $15,000Labor Costs: $10,000Total Capital Expenditure: $25,000This $25,000 would be capitalized and added to the property's basis.

The apartment definitely needs work - mold/mildew smell in bathroom, old kitchen appliances, old water heater, zero closet space, minor flooding in the basement, etc.

Purchase price: $45,000 Sale price: $64,000 Contributors: Chelsea Zabala Partner Driven, with Crystal Smith and Eugene, undertook an innovative venture at Water St, Joliet, IL.

Case in point, I recently had a water heater go out, one of these pricier tankless systems that was on its last leg after about 10 years.

Are you changing layout and have to move drain lines, gas lines, water lines to new locations?

We also had an iron tub in the front yard that my mom would fill with water and put black plastic over to help warm the water, then a little hot water from the wood stove, and we would take turns bathing in the great outdoors.Rough stuff, but I don't recall ever being unhappy at that time.

As you all know, getting a phone call in the middle of the night from a tenant with no heat or water leaking is a nightmare most do not want.