Our current project duplex needs exterior work:-Garage refaced / re-sided-Bulkhead replaced-Gutters removed and replaced  -Seal and repaint all exterior trimIf any of you folks have suggestions on how we can find a trustworthy contractor in our area, let us know. 

The longer term tenants are worth lower rents mainly because you are kicking the rehab costs down the road...because after a certain time your vacancy cost will be longer so you can repaint etc.

Last year, we had the house completely repainted, inside and outside, We had about half the siding on the house, which was rotten, replaced, redid the front porch, we replaced double exterior doors, got a lot of new furniture, redecorated all the walls, got a few new TV's, replaced an oven, blew insulation, had service work on the plumbing and the heat and air, and a lot of other things I can't even remember at the moment.

While there you can evaluate whether complete repainting, floor clear coat, etc are even needed. 

Outside needed a little clean up and fresh landscape, and we repainted the garage.

Now there was a 2nd change order to fix the leak, unclog and repaint the basement, another $8900 down the drain (after they unclogged it, of course).Last, there were some minor fixes after the occupancy inspection, $460. 

Also everything’s need to be repainted and trim needs to be replaced.

You next have to determine: are you going to do a major turn each time a tenant moves out or a touchup until 5 years(usually the paint will have faded by then and needs to be repainted.).

Planning to do a deep cleaning, get the HVAC/ducts cleaned, replace carpet and do a coat of KILZ before repainting.

I've heard some PMs who recommend a full repaint on every turn, which is outrageous.