Some improvements are the standard 27.5 year, but carpet and water heaters can be capitalized.

.- Renovation includes making two 1st floor beds into a large master with an ensuite and expanding 2nd floor bath, plus paint, carpets, etc.- Prospect #1's contractor's estimate is $60K.  

Clean and deodorize the Property's carpets and drapes    d.

(i have new carpet in 3 bedrooms)Can you put NON smokers only in your house description, so that will eliminate unwanted tenants, or its a discrimination?

Oh and if we decided to do carpet, that would be about $2k as well. 

Buying College Rental PropertyWent thru house with Inspector-  second floor has carpet throughout-  ripped up a corner and its all hardwood floors!!  

Most quality general contractors I know aren't interested in projects under $15k unless we are talking carpet & paint only where you're in and out in a week.

Couple of questions: I realize if they put down carpet could be because the wood is in bad shape but if not I would prefer to have it all wood.( the carpet has to be replaced regardless ) It's 4 bedrooms.

I sold RE, purchased my own home, acquired two rentals and did two paint and carpet flips successfully. 

Then live there for a couple years while you fine tune things like paint, carpet, landscape, fixtures etc.