replace fixtures, HVAC, paint, and refinish floors.

i buy flooring at a discount and drop it off at the property. 

The first floor has been completely remodeled and is currently leased to great long term tenants.

I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

Replaced the carpet with hardwood floors & new trim, painted all the walls, and completely renovated the bathroom What was the outcome?

@Mad Dendukuri easy solution - tell the tenant you can't afford to do flooring AND put them up somewhere, so deal is off.Either they will be reasonable or show themselves to be greedy and someone you should get rid of.

I have some recommendations for you if you are needing a painting contractor, flooring contractor and a roofer.

We ended up buying one house to turn into a vacation rental and the two other options were one- a stand alone commercial building and two- a ground floor unit (currently occupied with a tenant for another 3 years) of a building that is in the process of being turned into condos. 

It has a typical unfinished basement with a concrete floor and there shouldn't be any reason to go down there except to do your laundry. 

We're also currently adding floor plans.