Upgrading fixtures, adding modern tile, and improving lighting can make a big impact.

Personally, I am going to buy an all-cash or lightly levered deal towards the back half of the year when I exit a hard money note I've recycled for the last two years.

They can power some basic circuits for days such as a fridge, basic lighting and the all important well pump.

.- That quirky, and warm, light switch that you didn't notice because you haven't been to the property in a year.- The shower that you noticed is awfully hot but failed to check into it more before you left.And so on. 

Usually people with good credit, income, can get funding for light, cosmetic rehabs (kitchens, baths, paint, landscape).

not in Alabama, not in California. think about a down payment, closing costs, light repairs, rent ready costs, commission to the property management company, then you fix a dishwasher, then in year 2 the furnace goes. 

true cash flow is only going to come either (1) after many years of ownership, when the property is stable and rents have gone up; or (2) with a completely different, probably tougher strategy or niche.think about a down payment, closing costs, light repairs, rent ready costs, commission to the property management company, then you fix a dishwasher, then in year 2 the furnace goes.

Avoid putting in cheap items and put in more durable - tile vs carpet, mini blinds vs faux wood, lights instead of ceiling fans.

Potential Middle Ground: Consider Renovating: Instead of selling, you could do a light renovation on the older property to increase its value and attract higher rent.

I too usually tell people to start with more of a turnkey property or a light cosmetic rehab.