I have owned rentals in hawaii, California and Utah from 130K to 700K.For lower-end rentals I always try to re-paint or re-face cabinetry.

However, it's already rented out by a long-term tenant who doesn't plan to leave.Purchase Price: $57kARV: $105kMarket Rent: $950Current tenant who has lived there at least 25 years: $700 (I plan to raise her rent like $75/year to get closer to market rent)Repairs at time of purchase: $0 (because no repairs have been reported since tenant loves her own mess)If tenant leaves, that's when I need to think about the rehab because:1) some of the walls have the dated wood kind of look2) old, dated kitchen cabinets3) fully carpeted house will need it replaced4) re-paint inside5) 150 amps service (should I upgrade?)

Meaning repainted or carpet cleaned for a tenant that is starting their third year.Thank You,Lukasz

Once you have 4-5 cottages in a line repainted, you start to see other houses being repainted shortly afterwards.But we have a very different outlook to you big investors, I get to know individual neighborhoods.

 don't mean to step on any contributors toes  but I purchased a 4 bedroom one and a half bath home in Englewood for $8,000 a couple of years ago I put in about $12,000 in upgrades to the kitchen and bath and did an entire interior repaint so yes it there are properties in Chicago town in that range.Chase pls PM me.

I don't get quotes for turn over unless we have to do a full repaint or recarpet or something.  

Also, if it's been more than two years (I think it's two years, don't quote me on that), here you are required to re-paint because of normal wear and tear.

Don't let the idea that replacing carpet and repainting a unit are Capex, you will do it far more often than the IRS definition. you need to budget these cost on an annual basis and set aside reserves so that while you may not actually spend that each year, over the long term they add up.

I've sanded down and begun to repaint the kitchen cabinets, which are starting to look really good.  

Drawing on a wall isn't cool, but again, if they'd been there a long time and the room was due for a repaint anyway, I'd just get er done James and Shanti Kandasamy .