I negotiated based on expected repairs, knocked off $15,000 off lost price in August 2023.

I am really split between new cabinets or getting the old ones repaired and painted.

Try educating tenant on appliance and regular maintenance that needed, such as replacing furnace filter. and make sure communication is done properly in right format, like text messages and then follow up with call, if in need of Maintenace repair.

Years ago I came across a multifamily where the owner was not able to ready the property for market and thought it could not be sold until repairs which she could not do had been made.

I'm not sure the deal pencils at this purchase price (even with the vacancy, repairs, capex, and management fee being zero).

If this is primarily cosmetic repairs, then you will be ok.

While some property owners choose to self-manage their rentals, there are compelling reasons to consider hiring a professional property management company:- Expertise and Experience: Property management companies have the knowledge and experience to effectively screen tenants, assess rental market trends, and handle maintenance and repair issues promptly.- Time Savings: Managing rental properties can be time-consuming, especially when handling tenant inquiries, maintenance requests, and lease renewals.

I've considered taking a HELOC to do repairs but after reading Rich Dad, Poor Dad, I've second guessed that idea but leaving as is would negatively impact selling the home.

Unlike Marco's 75% LTV, we are seeing wholesalers in Salt Lake selling at 85% ARV (less repairs).  

Unfortunately, Colorado has just passed HB 24-1098, the "just cause" eviction bill, which requires landlords to offer lease renewals to their tenants unless one of a few specific criteria are met (if the property is going to be sold, substantially repaired, or renovated, or if the landlord’s family plans to move in - but basically you can't put it up for rent to anyone else for at least 90 days).