@Patrick SoukupGood question.My 50% ratio is used simply for a down and dirty quick assessment of a property to see if it is worth diving into at a deeper level.In addition to the expenses you list:There are often utility costs, landscaping costs, advertising costs, administrative and accounting costs, legal fees, unit turn costs, probably forgetting a few, etc - so they all add up.

You can also draft clauses regarding how you would like the landscaping maintained.

A healthy demographic mix seems to be good for business in my experience.

We are all trying to figure out this new covid landscape.

Landscaping upgrades, exterior paint.We will start this phase before the leases are up and while they are still occupied.Then we will remodel the interior, kitchen cabinets and appliances, bathroom upgraded Paint and new flooring.Once this is all done we will be in a position to raise the rents to fair market values, screen and place new residents that meet or exceed our criteria.Based on our timeline we should have this property fully turned and filled by June.Hope this is helpful.

(Ex: an updated fixture, an accent wall, updated landscaping.

Rentability prospects seem better for my age and ideal roommate demographic.

Force the mitigation before you buy or walk every other buyer will do the same if they have any savvy or are being helped by a marginally competent attorney or realtor.Your options as I see it:Have your attorney write up a contingency something like a credit of 3K will be granted from buyer to seller at closing with confirmation a licensed storage tank contractor under a permit has removed the tank and all landscaping restored.

Snow removal/landscaping mowing is another unless you are able to get your tenants to cover. 

Pipe lining also increases the life span of a piping system, preserves the building structure, landscape, and causes little to no destruction to the property."