Toilet leaks do reek havoc if gone unfixed or unnoticed but generally a halfway decent contractor would fix/stop the leak before replacing the floor. 

They ridiculed the “Illinois is Broke” campaign of The Civic Federation and the comment by Ty Fahner of The Civic Committee that Illinois’ pensions may be “unfixable.”

The kitchen and master bath layouts are so unfortunate, and it's unfixable without serious money. 

For example, older inventory has some of the nastier stuff that needs to be handled more carefully, such as lead based paints, asbestos, and had a really old (I think it was cast iron) gas boiler that was decades old.I agree that once you get in and fix everything up, the property should spit off pretty good cash flow without the need for capex (already addressed during the repair) and less maintenance than an "unfixed" property.

@Hailey Brown, Your situation is not unfixable because all of this has transpired before your next required tax filing. 

Hi Kim,They make pet proof carpet padding, and rental carpet typically only has a 5 year life span.Your CAPEX for the carpet should recover some of the cost of replacement if cleaning (and ozone treatment) don't fix it.Given the unlikelihood (in many cases) of actually collecting damages in excess of the damage deposit, renting anyplace to anyone (pets or not) without pet proof padding under the carpet is just asking to lose money.And the Carpet CAPEX should be built into your rent.Pet damage can be expensive and not always recoverable from the tenant, so it's best to assume pets will be in the rental even if the lease says no pets, and install pet proof padding.Some cats (unfixed) spray walls, sometimes just the litter box makes the smell and when that's gone, the smell is gone, but with dogs they all tend to have "Accidents" on the floor.

No answers seems to say it all-it is unfixable.

From most of the stories I have heard about the Hedge Fund portfolios they don't really have any of the attributes you gave them @Kenneth Goldman other than a lot of money to overpay for a lot of properties in a short period of time.I hear stories about places being left unfixed for long periods of time and super high vacancy rates on those places.

Start with the idea that all expenses can be unfixed and reduced.

Unless its something they caused to break by misuse I pay for it as I want them to report it as soon as there is an issue as I had a friend do first 150 on tenant and he found that small things would just go unfixed because they wouldn't report it.