But you also have to subtract utilities, turn costs, starting items (kitchen and cleaning items you give them), and furnishing upkeep/maintenance.

We will be adding a new kitchen and furnace and flooring.

This is a lipstick + flip.New floors, paint kitchen counters, cabinet faces, new bath, install central airWhat was the outcome?

You can always add a coat of paint, replace kitchen cabinets, but you can't move a house (well you can, but that's another thread!).

While the units needed new kitchens, baths, flooring, and paint, they were primed and ready for upgrades.

Your mechanicals and capital expenditures are a lot more important and more expensive to fix than a pretty kitchen. its better to live in outdated kitchen and have a well kept home with updated mechanicals/roof/hvac than one that looks pretty but will start to crumble5.

I remodeled the kitchen and the bathrooms and the master bathroom.

@Bryant Xavier helped me fix one of my properties after a mold remediation company left the entire kitchen stripped to the studs.

Added extra value by opening the kitchen up a bit.

Despite the red flags—like the inferior kitchen renovations, an inspection report that didn’t tell the whole story, and a seller who tried to take the appliances that were contracted to convey —I was pot committed.