Figure what that may be- new carpet or flooring, doors, paint and countertops- that number can be big depending on what condition your renters leave it.

Is that because you were doing both the projects at the same or do you always load the sames finishes (although I noticed the cabinets/countertops were different) in every house?

I always say something like Mitsubishi 2-ton ductless system, or granite countertop with max price of $xx/sq.ft, something similar to it.

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.

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

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

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.

I purchased an off-the-shelf kitchen (cabinets and countertop) at Lowes which will go in soon.

This is before any maintenance, etc.They used granite countertops in the units.