If I had the time I would of loved to painted it and landscape to make a bit more of a profit.Living room and all others gutted with some rotted sub floor.Original kitchen.Kitchen after new floor, paint and replace kitchen counter tops.  

Flaky paint, dirty carpet, old countertops an existing tenant might not care but to a new one looks un kept and filthy.

To better compete my husband and I felt we should invest in a few cosmetic upgrades (vinyl plank flooring, replacing countertops, and appliances).

We are presently advertising the unit for $975 (down from $1,050) with new kitchen cabinets, countertops, etc., new ceramic tile in the hallway, kitchen and bathroom, and bathroom completely redone (new bath and surround, new vanity, new ceramic floor, new toilet) all at a cost of some $10,000.

Anne - I'm going to invest some of the money in the kitchen by putting in new counter tops and a sink.  

It was from a Professional Flipper that had too many on his hands at once who I do work for (I am in the cabinet and counter top business full time) so we had a prior relationship.

It's the director's job to take whatever situation they have and make it appealing to the viewing audience, so if that includes adding some drama that wasn't actually there, then so be it.One classic example I remember was a certain show about 'Homes' where the granite countertop guys were carrying a slab of uncut granite into a home and dropped it and it smashed to bits.

We were shown a beautiful model with a Jacuzzi tub and granite counter-tops and a chandelier type light fixture.

Carrying costs go to the project cost initially, if you get stuck with vacancies after the first year it's simply lost income.Loan fees are amortized with the loan and expensed.Other closing costs can be expensed, like inspections for services.Rehab costs and broken down into expenses, saw blades consumed during the project and improvements, new counter tops are added to the basis and depreciated.

Sheetrock is now finished, finish trim is going in over the next few days and that interior paint starts later this week.That leaves all the finishes (flooring, cabinets, countertops, lighting, plumbing fixtures, etc) for the following couple weeks.