In addition to the two relatively HUGE changes, one of my units is a hoarding family with eight cats. (2 Bdrm/1 Bath) A quick walk through, determined the bathroom needs to be fully gutted and started fresh.

Immediately usable, fresh, and ready for consumption, but more expensive than if you made it at home.Because I could find enough deals around me that fit my criteria (50% rule), I never really considered the option, but I have been intrigued particularly for out of state purchases.It still seems a little daunting, but your questions have beat the bushes and delivered some really intelligent, encouraging responses. 

@Darren BailinOne other thing you need to check is the number of dorm rooms available and plans for construction of new dorms, as well as school reqs on who can live off campus.What will happen is schools build more dorms want to fill those rooms and maybe requires fresh and soph MUST live in dorms no off campus.

If you have a 25 year old house with the original roof, the amount you should have for replacement reserve of the roof is going to be higher than with a freshly re-roofed house.

@Luke Feds  combination1. over paying2. if its a fresh rehab  quality of work poor. leading to constant maintenance problems3.

Add to that, that as years go by I expect maintenance costs to go up as the rehab becomes less "fresh".

and yes i would do some weeding, plop in a few $6/gallon succulents from lowes/homedepot, and throw down some mulch ($3/bag) for a fresh finished look (or even better, gravel if my wallet affords it)does landscape pay off?

If you're not willing or able to work thusly, you should probably just invest in other areas that truly are "passive" e.g. stocks/bonds, etc.Yes really, she's a terrible tenant who got great service from us and who moved into our freshly rehabbed home that was in perfect brand new condition.We go the extra mile to provide a top notch product and service but there are limits on how much time can be spent on a passive investment.

it is in our lease that the tenant is responsible to keep the batteries fresh.

I moved to Michigan almost 6 weeks ago, so I'm looking at the market with very fresh eyes.Listening to the BP podcasts, I'm surprised at the unilateral position that Josh and Brandon consistently weave into their podcasts that investing in Detroit is to be completely avoided.