Focus on finding a replacement with strong tenant screening processes and performance guarantees.

Always ask, could you be replaced by a realtors listing?

Adding paint and replacing flooring is not going to add much value in the typical case.  

I have about $5k in a credit card and another $5k in a home improvement loan because I had to replace my AC condenser after purchasing my primary last year.

You can get some estimates from contractors for what they charge for big ticket items like to renovate a bathroom, renovate a kitchen, replace the furnace, replace the roof, etc.All wholesale deals should have free and clear title and you should be able to see the sales agreement before submitting the earnest money deposit.

Many unnecessary things are repainted, redone, replaced, and rebuilt.

Yes, that makes perfect sense, especially in such a large transaction to find the replacement property.

Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

i am not looking to be spending my days on the lake, I am looking to replace my day job income, and growing my portfolio.... but it is important to cover my costs first, which not 20k/mo but, that is what i'm accustomed to regularly (or more). 

Your renters will destroy these items and want you to replace them.