I acquired the four-plex with varied levels of updates, but would need/want to paint cabinets, paint doors, trim, walls; if carpeted, replace carpet with LVP; replace faucets with modern faucets, etc.

Somebody is getting married so slaughter a goat as part of the feast, in your apartment, your 2nd floor apartment, and then wash the gut's and gore into hallway via a hose tapped to kitchen faucet to "clean up", the CARPETED hallway, carpeted apartment......

Every area I know has gotten worse and worse and worse on it.Fifteen years ago,  when I was buying, rehabbing houses and holding, I oculd hire a licensed contractor and they were able to change toilets, faucets, even water heaters.

Increase the rent for each on a worst case scenario (You know: the tenants that realize that not paying for heat means they can leave the windows open in the winter and not paying for water will never get a leaky faucet reported.

They know the tenant base, median rents of different areas, how much to increase rent each year, ranges of repair costs (ex: tenant calls and says AC isn't working, no hot water, faucet is leaking, the HVAC system goes out).

Overlooking Minor Repairs: Small issues like broken window locks, missing handrails, or leaky faucets can lead to inspection failures.Incomplete Documentation: Always have the necessary permits and contractor receipts for renovations and repairs.Neglecting Lead-Based Paint Testing: If your property was built before 1978, it may contain lead paint.

It's a good investment, as it will prolong the lifespan of water heater, some appliances (dishwasher, washing machine) and fixtures like faucets and maybe toilets.A. is ridiculous, as hard water is clean water.

(They paid a handyman $150 to put the weight back on the kitchen sink faucet line!

My best advice is to pick the issues that are of major concern like roof, foundation, radon etc. but perhaps skip the leaky faucet or burned out light bulbs.

There have been stories of tenants intentionally causing damage, such as purposefully leaving a faucet running to increase the water bill and damage the property.