We had to replace all of the carpets with wood, costing us over $5K.

Would the house still smell from the cats even if there is no carpet???

If this tenant can't afford the $100 increase, I will have to travel back and spend the time and money getting the house ready for a new tenant (paint, carpets, etc) , not to mention decide whether I will hire a company to deal with the rental and the new tenant, which could mean 10% of monthly rent or I will have to deal with it long distance myself and hope for the best. 

Quote from @Chris Seveney: @Jamie ParkerYou really need to do a more thorough job on the comps and see why did one sell for $150-$190, that’s a huge spread1. 150k, hit the market @235k in  9/2023 sold 2/24 . 3/1 New carpet, Tile bathroom.

May need new carpets in bedrooms (or just steam cleaned).

Figure a few grand to paint rooms, replace carpet in a room, deep clean and spruce the property, replace a fixture or two, etc.If you have to replace your resident annually the $9600 total income will get a gut punch.The true value of the higher-end neighborhoods is residents know if they move out of the home they have it's a challenge to find another, especially if they have been there a few years and have a competitively rewarding rent rate.All this really is is basic economics...sell ten custom widgets for $1000 or 100 standard widgets for $100 each.

We lost the equity piece of BRRRR, but we gained appreciation - something I did not see much in the earlier years.We work with the same contractors, we have standardized materials, we use the same vendors and SKUs for the most part - but still: if I am not on the job 3 times a week and check in on progress, quality and issues, things go sideways.Most of our OOS clients end up doing paint & carpet and will later say they are so glad they did not take on more! 

They are partying, drinking, playing loud music, burning their BBQ, smoking, and throwing up all over the carpet and couches. 

The issue is that the carpet has buckled badly and needs to be re-stretched, a job which shouldn't take more than a few hours.

New roof, solar, paint, lvp in the living room, granite countertops, cabinet handles, fixtures, carpet on stairs and upstairs, refurnished entire house.