Things wear out over time, require updating, upgrading, replacement etc..

Rehab Scope:Cosmetic remodel: Painted the interior/exterior, updated the kitchen cabinets and countertops, and installed new flooring.Modernized fixtures: Replaced light fixtures, outlets, and switches throughout.Enhanced curb appeal: Painted the brick exterior, added landscaping, and modern black accents.Timeline: Completed the rehab in just 4 weeks to minimize holding costs.Strategic Upgrades: Focused on cost-effective improvements like vinyl flooring and fresh paint, wh What was the outcome?

Like putting the deal together, renovating or upgrading,, management, etc.

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. 

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 seller wanted a buy-back, and we added a clause that reimbursed not just for upgrades but also factored in market appreciation tied to the improvements.

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

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

Like any city, there is dilapidated housing stock in rough areas that can cost more to upgrade than they are worth. 

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