What is the kitchen like?

#2 - Larger 5-bedroom renovation into a sweet rental home Before Pictures (Zillow Link)After Pictures (Airbnb Link)These investors took something that was very boring and extremely residential-looking and transformed it into a cozy retreat for travelers with highlights being adding wood paneling, kitchen renovation, new furniture throughout, beautiful outdoor space with added hot tub and fire pit spaces for guests to hangout and an exciting game room space to occupy guests for hours. 

They put their old hand me down furniture and cheap plastic Dollar Tree kitchen utensils in there, pass off the management to Vacasa or Evolve, and expected to make a killing.

For example, on what I thought was a relatively simple project in a bathroom reno which was fully gutted down to the studs already, I had more than one quote for over $7k to run pex supply lines and rough in a shower drain and toilet drain off of an existing main stack, all of which ended up costing me about $200 in pex lines, PVC fittings, and sawzall blades.If you need any hardwood flooring repaired, patched, or refinished, you can't beat Dave's Hardwood Flooring out of Blaine - $3k spent with them fully brought one of my duplex unit's original 100+ year old maple floors back to life.If you're putting in any stone counters in your kitchens or for bathroom vanities, Twin City Discount Granite have been awesome to work with, and consistently have the best pricing I've found in the area on fully installed granite and quartz.I also have a great drywall guy, as well as a really good carpet install guy - feel free to DM me if you want either of their contact info!

Walls come down, kitchens come out, and bathrooms get a major facelift.

A new kitchen on the first floor.

If you have four 2-bed/1-bath units with the same appliances, split it four ways and call it a day.

The landlord could provide appliances and you do not or vice versa.It probably won't change radically if the tenants' income and family structure haven't changed, but probably won't be the same unless the properties are very similar.

. $3000 worth of tile, $5000 worth of cabinets, $4000 worth of appliances.

Do you know how to mitigate if someone comes in and steals your appliances or HVAC?