I was just going to put new flooring and trim through out, paint everything, landscaping and spend money on the bathroom which needed the most work.

The school districts don't rate statistically with the best of Ohio (although Rocky River is ranked very high and just minutes away if that's what you're aiming for) but they're still great.

Statistically, almost never.

Would make an excellent maintenance man. 5 or 6 sets of cabinets ready for installation now.3-4 laborers making $8-10 per hour8-10 units have been completely re-plumbedCurrent owner has probably spent about $400k so far ($5-6k on landscaping)All units are about 850 SFRenovation Estimate: $11,000 per unit (46 units) + 20% contingency fund = $607,200Tenants pay all utilities.Includes PoolTownhouses (18)Only 4 vacant units.Roofs are all in decent shape.None of them should have to be gutted.

But a new buyer might want new flooring throughout, new counter tops, and maybe more upgrades like a back patio and landscaping.  

Here is the link to the NCREC statistics on "approved" schools and their pass/fail rate.  

That said, I'd still like to do my research and try to understand the landscape including owner experiences.I've personally stayed once or twice at Seasons Resort in Barltett, NH near Attitash.  

Sounds like I really need to familiarize myself with the current rental landscape in Louisville.

In this new landscape simply holding for more than a year does not automatically give you capital gains treatment if the IRS determines that you purchased the property as inventory (primarily for resale).   

But it's a bit of a stretch to then try to hold him to blanket-agree with the rest of your sentence: "how much you pay relative to ....the long term trends of market pricing" - which I would view as a different metric altogether, and may have little if anything to do with ongoing rent returns vs CURRENT purchase/market price.Sure, Dave will watch the look of his investment neighborhoods - but statistics are fickle!