The house does need a new hot water heater, outdoor A/C unit, stove, refrigerator, carpet and paint, and some cosmetic upgrades = $3500-4000.

Who checks the cabinets to see if they can be repaired/painted as opposed to demod and replaced?

Now, in a few more years we'll put a paint job on it, probably 6 to 8K, about $33 a month over the holding period.Saying that all the analysis goes out the window at the end of the year when no real maintenance or improvement issues arise, it can be the cost of cleaning supplies, nothing in the big picture.

They don't always do things the absolute best way for protecting themselves IMO, but she'll never have an issue with me and that would be true no matter who I rented from.She also knows I own property and as such I understand the pain of turnover expenses which is why she will get my unit back with a fresh coat of touchup paint if needed and the carpets cleaned on my way out the door.

Clean them asap, maybe a fresh coat of paint and rent them to better tenants.

Hey Bill - would buying a $25,000 house, painting the walls and selling at 13.5% interest be predatory BTW?

Forgot to state, that no capex costs were included because the condition of the unit appears rent ready, with appliances, fixtures, good flooring, paint, etc.

I was thinking that I could use saved cash to make minor repairs (paint, siding, roofing).Heres the twist...I have also spoken to a general contractor about possibly extending the house so that I could get zoned for a small at-home daycare for up to about 5 - 6 children that my girlfriend would be able to run.

Not that I do not trust sellers but they tend to paint a rosier picture than reality.

Roof is in need of replacement ($4-5,000) and could use some carpet replacement and made some laminate flooring and misc, paint, cleaning ($2,000) Property should rent for $700-$750 Per month.