Place needs minor clean up work and house needs a little work too (mostly paint, wood floors re sanded and clear coated things like that pool needs new linear) all minor stuff house is livable though.

Debating if I want to sand/clear coat the wood floors on unit one.

Now if you are doing it yourself you can reduce by 40% - 50% but remember you are now working for free.Example: To paint 2 coats on the walls and ceiling it’s about $1 per sf. 2 walls x ((10’x8’) x $1) = $160 / sf, 2 walls x ((12’x8)x $1) = $192 / sfCeiling at $120 / sf.

Taxes are "supposed" to have some general benefit, not just pay for another coat of polish.

Painting the walls is a normal maintenance item; where as skim coating is not and must be depreciated.If you have any specific questions don't hesitate to ask here as I'm sure many have the same question.

(It is a 3 story building and this garden unit was legalized with the rehab permit & plans under which things are being done)Existing drywall appears to be half inch (so we are off by 1/8th of an inch) and it was never touched so I thought it can be left alone but now they want to cut it and check the thickness.Since they demanded that I tear down the entire ceiling to put 5/8" drywall per code, I suggested if I can keep the Half inch drywall and just add another layer of 5/8" inch which would make it much thicker then what they demanded.

I'm pretty sure is 7mm, quality isn't bad but definitely not high end like thicker brands they sell.

Just want to pick up a property that may just need a fresh coat of paint and place a tenant in there. 

@Matthew Coates I had mentioned over a few years for the 10-15% total (not 10-15% per year), so perhaps 3-5% annually which is in line with what you had mentioned for the "new norm" overall.

Replaced HVACReplaced RoofReplaced Counter topsReplaced CarpetFresh coat of paint!