Question for experienced investors only.Let's say your general contractor quotes you at $12k per unit to update interiors (paint, install vinyl floors, formica countertop, refinish cabinets, and new appliances).

I paid a contractor to refinish a tub two years ago and after one year it had started chipping paint.

Removed carpet and refinished hardwood floors.

Painted everything, installed recessed lights, refinished hardwood floors, replaced hardware, etc.

But I spent so much effort furnishing the house out of state, and it's decorated nicely... and yes, if all venues fail, it will cash flow in the long term rental market, I just have to go through the hassle of selling furniture that I hand picked and some "refinished".  

refinished floors, paint, new fixtures and new kitchen appliances and backsplash What was the outcome?

Hello everyone so I just bought my first rental home it is an older home from 1909 it has a basement well kind of a basement so it is a weird design the ceiling heights are only 65 inches tall and it has concrete floors with a furnace and water heater right in the middle and it is small the basement is only about 650 ft.² the upstairs of the house has been partially updated the kitchen and bathroom Are the two areas where somebody put a little bit of money into it like newer flooring newer appliances some Ookay cabinets some OK countertops the two bedrooms and living room are original hardwood floors that I am probably going to get refinished so my question is I have some money to rehab the house my options are doing some thing with the basement which right now I’m not even sure if it can ever be considered a habitable space because of the ceiling height issue and it does not have egress which I could get egress but it’s not that cheap I would probably just finish it as a rec room or something like that or I could put a majority of the money into the upstairs by upgrading it it does have a sunroom at the front of the house  which is a newer addition to the home which is in pretty good condition also probably would use some of the money to get a new paint job on the house I am just a little confused where I should put the money originally I was thinking the basement and had this whole plan planned out but now I’m starting to revert and go maybe towards  making the upstairs and outside and landscape nicer

Hello everyone so I just bought my first rental home it is an older home from 1909 it has a basement well kind of a basement so it is a weird design the ceiling heights are only 65 inches tall and it has concrete floors with a furnace and water heater right in the middle and it is small the basement is only about 650 ft.² the upstairs of the house has been partially updated the kitchen and bathroom Are the two areas where somebody put a little bit of money into it like newer flooring newer appliances some Ookay cabinets some OK countertops the two bedrooms and living room are original hardwood floors that I am probably going to get refinished so my question is I have some money to rehab the house my options are doing some thing with the basement which right now I’m not even sure if it can ever be considered a habitable space because of the ceiling height issue and it does not have egress which I could get egress but it’s not that cheap I would probably just finish it as a rec room or something like that or I could put a majority of the money into the upstairs by upgrading it it does have a sunroom at the front of the house which is a newer addition to the home which is in pretty good condition also probably would use some of the money to get a new paint job on the house I am just a little confused where I should put the money originally I was thinking the basement and had this whole plan planned out but now I’m starting to revert and go maybe towards making the upstairs and outside and landscape nicer

If you are pulling uncle Bill off the street or your best friend to help you refinish a unit and paying them they are not a 1099 worker, they are an employee and would need to be paid as such.

I refinish /patch the existing wood whenever possible.