They got a $2500 6-man hot tub (again from Costco, sorry:) and improved their deck.

If you want to avoid failing the first inspection here are a list of things to check: carbon monoxide detectors on every floor including basement, both photo electric and ionization smoke detectors present, all outlets are grounded or switched out for two-prong outlets, all windows and doors open & close properly and can lock, all stairways, porches, decks, and balconies have handrails that meet code, and all appliances, furnaces, ACs, stove ranges, and bathroom vent fans (if present) are clean and function properly.

It has a garage that was not legally built into 2 additional bedrooms as well as a large rotten deck out back.

@Gary L Wallman how many people have you seen walk into a prop and turn into a pink cloud on the flight deck?

On budget, on time.Get in, get it done, get out--repeat.Don't leave partial finished work dangling.Have a dropbox (or other) with pics of your work sorted by type, ie shower replacement, tile work, decks, etc...Good Luck!

My mountain home needed to be completely refurnished plus we added a hot tub (a must for cabin rental) which came with reinforcing the deck, so to get it Airbnb ready it was about $10,000. 

Sure I can be safe and treat it as a capital expense, but I don't know if it makes sense to.We have a small rental property with a huge deck.

I had to tear down an old deck and build a brand new one.

.- Roof & General Water Leak problem, Mould, Radon, InsulationGeneral Repair - To be done by local Contractors- Painting - Trims, Ceilings, Doors & Frames, Windows- Sheet Rock, Dry Wall, Wall damages, Door Frame damages- Caulking in Kitchen, Bathrooms- Plumbing - Water Leaks in walls/ ceiling, Water runs freely, cold/ hotvalves, pipes under vanities and kitchen, invisible pipes- Stair Railings, Decks- Electrical - Fixtures, wires, insulation- Professional Clean up in the endStandard Items - can be done by home improvement franchises-New AppliancesFlooring - Wood, Carpet, TilesKitchen - Countertops, CabinetsBathrooms - Seats, Tubs, VanitiesHVAC - Water Boiler, Air conditioning

@Jason Deck - I know a realtor working the Chicago area, who deals in MF properties,  what class properties are you looking for and what is your price range?