.- updates include:- replace a broken window- add in-unit washer dryer- remodel kitchen- update bathroom- estimated budget: $20,000Unit 2 (3 bd/ 1 ba): Currently Owner Occupied - Rent for 1700- updates include:- update bathroom- re paint to match the unit below - unifying paint colors across all units seems to be a good idea- new door and closet in the third bedroom, currently configured as more of an open office-estimated budget: $10,000

Carpet get dirty on traffic areas, walls need touch up or to be repainted - and all these not billable to Tenants because it's normal wear and tear.Besides, vacancies makes the biggest loses in this business - even repairs are not the number one expense.I'm very reluctant to sign even one year lease and if Tenants go month-by-month without renewing, the rent jumps up to $100/mo on $800-900/mo.The only reason to Rent month-by-month I see as you have huge demand for these rentals which might be because you Rent below market or have extremely nice rentals for the price.I'm renting slightly higher than average market and it might take quite some time to re rent the house.

What happens when the tenant moves out, leaves a bunch of trash behind and you need to repaint and clean it out.

Clean the mold up with bleach and repaint with Kilz, put the exhaust fan in like suggested earlier. 

But, how many times do you think throughout that 5 year span will you be repainting units?

We have a 6 month-1 year plan of replacing the entire siding on two of the buildings and repainting the 3rd.

Completely re-paint interior of house including garage and ceilings runs approx $700 for labor.

It only needed touch up but the prior paint was flat and it was advised that I repaint with semigloss to avoid similar wall paint cleaning issues in future.

You don't have a lot of painted areas, so consider repainting the place. 

I plan to replace flooring and repaint the interior.