I have a couple rental properties and consider myself pretty handy in terms of installing flooring, minor electrical, painting, etc and I enjoy coordinating repairs and getting out there and meeting people that do this type of work.

I just put 5000 to be conservative but owner states he just put in new hot water heaters, roof is in good condition, the pics of the yard look like it is really well maintained, etc  The detached garage looks old but has a brand new roof on it and has been painted to match the apartment building. 

We'll do granite there and the bathrooms, do some tile, some wood, new carpet, paint in and out.....and of course, the grandmaw wallpaper has got to go.  

So let's say you walk through a house, and in your mind you see carpet, paint, new kitchen, new bathroom, one wall removal, popcorn ceiling removal and general cleanup. 

Flushing household chemicals, gasoline, oil, pesticides, antifreeze, and paint can stress or destroy the biological treatment taking place in the system or might contaminate surface waters and groundwater.

She says the house needs paint, flooring, an new deck, and possible mold remediation.

But do I paint it or remove it and put up drywall?  

Your unit hopefully will not need changing of carpets, window treatment and double or triple coats paint.

If one goes vacant I would need to fix some plaster, do a ton of cleaning and paint the entire interior.

Drywall repair and painting isn't that expensive.