I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

Do you want to buy something more turn-key or are you open to some level of rehab (more than just new carpet and a coat of paint)?

Replaced the carpet with hardwood floors & new trim, painted all the walls, and completely renovated the bathroom What was the outcome?

Then insulation, then drywall, then paint primer.

You're barely doing new carpet, paint and replacing some doors on that budget.The issue (at least in DFW) is that B class doesn't lease at all.

Painting, plastering, refitting out fixtures and fittings, windows and doors.

So maybe that paints a better picture - I’ve advised them to dive into as much financial education as possible.

Wife was painting and poked a hole thru sheetrock with her finger into a hornets nest in the wall.

He  painted a picture of them riding in and saving the day..

They asked $250 to paint the ceiling with the good paint.