.• Needs lots of new paint, floors, wallboard, plaster repair, fixtures, and updated appliances.3.

@Rabia Khan leverage buyers agent experience. look for HOA cash reserves, check how old or recent HVAC is, kitchen appliances etc. the more recent and updated they are, the better it is for you as you dont have to invest in maintenance or capital expenditures.

The lease is probably not silent on other landlord repair responsibilities and there is generic language in it to include other systems and appliances.

The savings had the security deposits and monthly deposits for longer term items (cap ex) like a new appliance, or paint, or roof.

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

I have heard of people pouring cement down drains, and they frequently take appliances, and often other things you would think should be in the house.  

Kitchen renovation included new cabinets, counter tops, sink, tile in the pantry, a few new appliances (dishwasher plumbing & elec were not there previously) and finishes throughout.

Then we had a bunch of cap ex (roof, water heater, appliances) all needing to be replaced within a 2 year period.

CR had put significant $$ into renovations so these row houses were really like all new - roof, appliances, gutted throughout etc. it was understood that many of the rentals would be Section 8 which is a good secure investment.

I put too much into renovations because of the classic found a bad contractor story, so had to get another contractor out, and after 9 months holding cost and about $60K in repairs, $3K in appliances, I got the place rented. ( I also refinanced and was able to get about 133K out, which I paid off my HELOC and credit cards I used to pay for all the renovations and PP).