Each is 2 bedroom and received new carpet and paint, two units received new baths and kitchens as well and one a new laundry in the unit (the rest will share coin laundry in the basement as part of phase II).

This is a foreclosed condo.Purchase price: 65,000 Estimated repairs: 14580 ($15 sq ft estimate) for carpet, paint, kitchen, light fixtures.ARV = ~100,000 (Based on what the same condos sold for recently)20% down payment at 4.5% over 30 years. 

Hello gurus,I am trying to teach my self how does this all work. please let me know if my understanding is off.Yes, I know I should hire a professional, but I like to understand things my self.Facts: property bought in 2018before being put into service some work on it have been done:- $5000 on floors- $1000 on carpet- $1000 appliances- $7000 random (paint, door fixes, wall fixes, bathtub re-glazed and other things).I understand that all of this needs to be capitalized because it was done before it was put into service.After putting into service (tenants in, etc.) more things were discovered around $2000 cost.This is what I am thinking: - capitalize and depreciate the floor, carpet, and appliances separately over shorter time period (5 and 3 years).-  capitalize and depreciate $7000.

Infill hardwood floors, new tile in family room, new carpet in master, total master bathroom renovation.

Overall updates including new paint, carpet, doors, door hardware, and trim.

This is a foreclosed condo.2 bedroom, 1 bath 924 sq ft condoPurchase price: $65,000 Estimated repairs: $14580 ($15 sq ft estimate) for carpet, paint, kitchen, light fixtures.ARV = ~$100000 - 110000 (Based on what the same condos sold for recently)20% down payment at 4.5% over 30 years.

We put some money (about 10k) into the renovation of the house and replaced all of the carpet with wood-faced tile as well as replaced the cabinets and countertops in the kitchen, both bathrooms, and added a small dry bar area.

We put some money (about 10k) into the renovation of the house and replaced all of the carpet with wood-faced tile as well as replaced the cabinets and countertops in the kitchen, both bathrooms, and added a small dry bar area.

We put some money (about 10k) into the renovation of the house and replaced all of the carpet with wood-faced tile as well as replaced the cabinets and counter tops in the kitchen, both bathrooms, and added a small dry bar area.

Is the unit carpeted or bare floor?