It's much cheaper to have a toilet and faucets replaced at the time of reno than midway through a tenancy.

And last month we DID do repairs on both a leaking kitchen faucet and a running toilet.

I seem to constantly have repairs for an 8 year old home (which the tenant does not even pay on time), including leaking faucets, fallen fences caused by overgrown trees falling, broken exhaust fans, etc.

Then they just have to install and cut a hole for the sink and faucet.....

This would be my first such deal and I'm open to hearing of anyone's personal experience in that market.I've done my due diligence and it looks as if it's ARV is about $225K with what appears to be only cosmetic updates needed, such as granite counters in kitchen, sod in the backyard, new faucet fixtures all around. 

I really like the design of it all, especially the long countertop opposite of the faucet.

Recently I had the following work done at a property:  1) install security screws for existing kitchen faucet 2) adjust deadbolt on a door 3) replace (2) outdoor lights and light bulb (4) replace 3 smoke detector batteries (5) install a spring for screen door (6) install a blind in the living room. 

There are many faucets to the game that I would like to expand to and learn more about, such as: flips, different financing techniques, building a business, etc..

Leaky toilets, running faucets could cost hundreds(even thousands) more.

As far as other maintenance expenses, as a landlord you're typically expected to fix whatever breaks on the property (e.g. sliding glass doors, screens, ceiling fans, light switches, faucets, leaky plumbing, garbage disposal rusts out, leaky toilet, garage door doesn't open, electrical issues, etc.)