Our house has been updated over the years of living there(all new paint, re did bathroom, granite counters, new carpet) so my question is do we try and sell at a higher mark and cash in on our house and put some in to the new house to build equity and reinvest to a rental or do we keep our old house as a rental, which would be the nicest rental in the area?

It's also a very old house with a few "classic" problems (asbestos, lead paint, etc.). 

Kitchen and existing bathroom remodel, new master bath, new attached garage, flooring, lighting, patch/paint etc.

Our family business does flooring, cabinets and paint so we have pretty accurate numbers down.

Paint, new appliances in kitchen, flooring (fake wood) etc.

I have since installed new LVP flooring in the first floor, installed crown moulding, replaced the upstairs windows, installed A/C, and did some cosmetic upgrading (ship lap, board and batten, and painting).

I have since installed new LVP flooring in the first floor, installed crown moulding, replaced the upstairs windows, installed A/C, and did some cosmetic upgrading (ship lap, board and batten, and painting).

However, Pasadena is full of older houses that need some modern amenities and features, like higher ceilings, smooth ceilings, new flooring, double pane windows, modern appliances, modern paint colors, etc. 

Did a walk through today and it needs new bathrooms, kitchen cabinets and appliances, Windows, paint, and landscaping.

5) What is customary for painting, etc before a new tenant moves in?