Spec loans are very dependent upon State,City and RE conditions - - usually difficult for even a licensed contractor. 

I got a beat up one that could be reconditioned for 100 dollars plus 13 dollars for the part plus 7 dollars tax. $120vs299 echo backpack blower 195 mph at 465 cfm (closest i could find to it without rearranging the engine) at a bargain this blower is available for about $250.

The other thing that has been said, it's cheaper to maintain a temperature than to recondition an over heated space.

You can buy reconditioned ac units.

My goal is to recondition the property and rent it out... 

I was having my PM go later this week through each unit with a check list to see what works and what does not.I want to send a message to all tenants that they will be gone period if they don't pay the cash.I just bought the property so I need to set a precedent from the start.The seller gave me a list of 10 tenants wanting to rent last month that they didn't have time to call.They don't even put anything on the net just a tiny sign in front of the building next to the road.I want to build up a big tenant call list and show that to the existing tenants and let them know when they don't want to pay rent or try to pay partial they will be gone.In a way I think it would be better as I could condition a blank slate tenant from the beginning instead of having to recondition existing tenants from a previous landlord who sometimes was on top of things and other times let things go.

Have some vacants I am reconditioning to rent out.Looked at carpet.Found a happy medium at .80 sq ft.and 8 pound plush scotch guard pad at .85 sq ft.This is at Home Depot with a very low installation fee of around 35 bucks.Conversely found 12 by 12 ceramic tile for .56 sq ft.My thought process is too install the tile all the way through on the main floor and use carpet just on the stairs and the 2 bedrooms upstairs.Has vinyl down stairs now but actually cost more than tile and get ripped and messed up.Tile would seem to take more abuse and last longer.I can get cheap berber type carpet for .48 sq ft and cheap 6 pound pad for about.49 sq ft. but I am trying to make it look nicer and not cheap.This is why I wanted to spend a little more on a nicer pound foam pad versus rubber composite.I asked about the Home Depot bid room and the sale person said he could submit but the bids are getting rejected as the carpet is already priced so low.Says HD is getting away from the contractor bidding wars to try and get the price down etc.I checked with prices versus Dalton Ga (carpet capital of the world and the prices were just as good or better.HD is measuring the units for free for me tomorrow.On the tile how much is the grout and the bonding agent for the tiles to the floor??

You will have high turnover as people seek lower rents.With higher rents it might appear you make more but with more turnover and reconditioning the property you can lose more.Have a great product at the bottom 50% of rents for that size and type and you will get to choose from many applicants and have a better chance of landing a quality tenant.You can also request a higher security deposit for a better rate.Tenants look for deals on rent also even though they are not buying a property in most cases.

These units have high turnover and massive damage each time for reconditioning.These properties in the city of Atlanta have high property taxes as well.You buy for 15,000 and rent for 400.400 times 12 is 4,800Back down 480 for management fee and 200 for lease upTenant turnover can cost a few thousand or more each time.Say from eviction the property turns 3 times a year.At a minimum 1,000 is spent each time plus 1 month in lost times 3 is 1,200.3,000 in reconditioning costs plus lost rent of 1,200 ( 3 months) plus 40 management fee times 9 months collected rent is 360,plus yearly taxes of say 500 is around 5,060 in annual costs IF you have no big ticket items go out.In Fulton county where the inner city is the court room is packed with evictions.

Yes when they know you live there you will be the first choice.Especially if the property management company takes first months rent they have an incentive to have tenant turnover.Raise rents and tenants leave and then the property management collects first months and application fees.Great for them and horrible for you.If they have been there for 6 + years not only will you lose tenants raising the rents but your re-tenanting and conditioning the apartment after that long can be very expensive per unit.Existing tenants won't care if things look old as they are comfortable there.New tenants paying higher rents will have high expectations going in for everything to be fresh and updated.If you half-*** the re conditioning of the apartment and it sits and you drop rent you are worse off than the long term tenants you had before.