I'm assuming it's just basic cosmetic work needed to achieve those rents.Post Work CAP Rate: ~10cap (45% expenses & based on $1,222,000)The plan: EARLY WORK - 3 of the buildings need exteriors re-painted and some trim work, townhomes need new garage doors As leases expire we raise rents to as-is market valueIf tenant does not renew and moves out, we will upgrade unit and get the higher rents

I sorta expected to repaint. but sheesh. why's the ceiling so dirty!?

Since we started this, we usually kept about 6 months worth, but we’ve been hit with multiple AC’s going out at the same time, redid flooring throughout house as well as repainting....all at the same time.

I dont want to do these updates now because I plan on doing a major gut job and repaint job so Id rather wait until their lease has expired or if they want to move out earlier I'm okay with that too. 

, when they want new landscaping , but , of course you should get on it right away , repaint the house to their taste ?

The only thing worse than paying someone to take the paper down and prep the walls for paint would be....... paying your painter to paint the walls and then discovering that the paper is separating from the wall BECAUSE of the paint.....then realizing that you're going to have to pay someone to remove the paper and prep the walls.................then paying your painter again to re-paint the walls.

Re-painted in red, white and blue.4.

Then clean the walls and ceiling with TSP and repaint with an odor/stain blocker, such as Zinsser or Kilz.

Then repaint your finish coat and put in new flooring.

Repaint and you are fine.