Income:All units 1 bed/1 bathUnit A --> $700 Biggest unit, has bonus room and dine in kitchen, has only off street parking spot, 15 year tenant (month to month), i think the rent could be increased to 800-825Unit B --> $600Standard 1/1, Tenant leased until May/2018, I think rent could be increased to 650 after leaseUnit C --> $500Standard 1/1, 7 yr Tenant (month to month), only unit that would need any rehab and not until (if) tenant left, i think rent could be increased to 600-650 after mostly cosmetic rehab (shag carpet and wood paneling)Unit D --> $550This is actually a studio but listed as a 1/1, has Murphy bed that will be removed and wood floor refinished from bed damage (minor), recently vacant but was renting for 550 but would possibly lower to 450 to fill quickly Additional Expenses:Landlord pays Gas/Electric and charges flat fee to cover costs.

While the living room is relatively small, I'm converting it to an open floor plan alongside the kitchen and the dining room to make a decent sized living space.I'm not sure what to do with the office located next to the living room, the current options are:1.

I plan to replace the carpet in the bedrooms, but I wanted to replace the current carpet in the living and dining room with something nicer.

@Patricia Berman Those are great concepts and ideas.....I would add that STRs have a built-in benefit to any community - they attract tourists, who are more likely than  a single local family to go out every night they are there, dine at the local establishments, shop at the local shops, visit museums and generally spend a TON of money in the community over a period of a couple days.

Buying furniture for common areas (couch, lamps, television, dining table) for more than one household. 2.

Debt for expensive doodads like houses you live in, cars, boats, furniture, vacations, dining out, etc., etc., etc. is nothing but bad.

Gave them $100- for paint, than they decided they didn't like living room or dining room paint color, gave then $200 more.

The new roof leaked water into the dining room ruining the dining room wood floor.

We use the Home Decorators collection (Stony Oak Grey 6") in our rentals exclusively over sheet goods in all traffic areas, kitchens, and dining areas now.

Instead they are out sightseeing, attending events, and enjoying the local entertainment and dining options.