Have in your lease a provision about significant wood damage (gauges, deep scratches, water damage, etc) and plan (and budget) for eventual resurfacing (about $2 per square foot) which will require restaining and lacquer) or if your lucky, a “screen and coat” where they just rough up the surface lacquer (with a screen like sander attachment) and re- coat with lacquer only which is a bit cheaper .

(Flooring, Backsplash, painting, resurfacing kitchen cabinets, new countertops) Other than the upcoming work I have planned, ive done an odd job in the past and worked a roofing job for a few days(thats how long the job lasted).

I used 5% for borrowing costs.Here is a short description of the property: Built in 1962Fully renovated interior & exterior -- recently installed a new roof and has re-surfaced and re-stripped parking lot.Each unit separately metered for electric. 15 Units total.Unit Mix:(5) 1bd/1ba - 753 SF(2) 2bd/1.5ba - 1,089 SF(8) 2bd/2ba - 1,100 SFI've attached a copy of my projections, financial statements provided by the seller, and an excel spreadsheet explaining how I calculated income, utilities, property taxes, etc.

@Jai ReddyYes sir, we're going to be investing a little over $600k back into the property with exterior improvements, amenity upgrades and then will also implement an interior turn package of 2-tone paint, counter resurface, updated fittings & fixture along with appliances and flooring as need.

It had minor cosmetic updates since the sellers purchased it (resurface kitchen cabinets, new flooring, painted some flooring, new paint, new hvac) is pretty much it.Based on looking at what had sold and is selling in the area, I felt it was really worth around 265k, but we realized that would never go and were willing to pay more based on our need.

Tons of updates including, a resurfaced driveway, new septic tank and drywell cover, new garage floor, sidewalk renovations, new counters, sink, fixtures, vanities, appliances, all brand new flooring and interior paint, new propane system and hot water tanks.

@Gayle MelnickHave you thought about resurfacing the tile and tub?

My unit did need the floor resurfaced, new painting, patching and other minor cosmetic things done to it.

I resurfaced the 2nd bathtub, Steam Cleaning Carpet, etc...  

It needs a new pool resurfacing, roof, and then cosmetic lift so it will be closer but I have some room for error as I am going to do some of the work myself.