You can then fix this unit and any exterior/common area work.

I improved the management of the Subway which generated more cash flow and did minor improvement to the property (asphalt refinished, painting the exterior of the building, new lighting).

I have a triplex which, based on our planned maintenance schedule, will have the roof replaced, siding fixed up (siding is already newer), trim paint and new exterior porch/stairs in the spring of 2022.One of the tenants, who also just reached his lease term, gave notice.  

.- Exterior siding and all new windows. - Total private money in the deal $104,000.- The whole project took only took 4 weeks to complete.- The home went pending twice with the same agent causing delays and additional hold costs. 

I also painted the interior and exterior and did professional landscaping.

I also painted the interior and exterior and did professional landscaping.

Something else for your location would be to remember to close any water valves to exterior hose spigots, and drain any water in the line past the valve by opening the spigot.

@Jon Schwartz, capex is usually budgeted for a specific business plan to upgrade the property exterior plus a % of the interiors based on quotes or your estimates. 

We had the interior/exterior freshly painted, new floors, new showers, removed a wall to open it up, new cabinets, and new appliances.

Pros- - Outstanding cash flow- Great small community with good school system- Mixed Units, 17- 2 BEDS/ 18-1 BEDS/ 1- Bed- Low vacancy rate- Common area laundryCons- - Extremely old building, 2 buildings total, an old school turns into multifamily living, built in the 1900's- Exterior isn't the nicest looking, it needs a lot of TLC. - Not the best location, the community that its in is about 10,000 people in the state of Illinois about 30 minutes outside of St.