Here is my rental rehab (BRRRR) #1 (My strategy with these is buy, rehab, and refinance out and get back all money my spent while paying off the lender)Brick row home, 1156 sqft, 3 beds/ 1.5 bathPurchase price: $58,000.00Purchase Closing Costs(including lender fees): $7,035.00Estimated rehab costs: $25,000.00Estimated ARV: $145,000.00Actual Rehab costs: $26,384.52Actual Appraised Value: $140,000.00Cash Out Refinance Loan Value: $105,000.00 (75% LTV)Refinance Closing Costs: $8,739.00 (Loan Costs & other Costs (pre paid costs, escrow costs, taxes and other government fees)Total Cost out of Pocket: $100,158.52Total Cash back after all HML has been paid: $4,841.48Gained Equity: $35,000.00Rent: $1,475.00 a monthPre-Rehab Photos: Repairs Completed:Replaced furnace and condenserRemoved sections of walls between kitchen to dining room and dining room to living roomComplete kitchen rehab to include granite and all refurbished SS appliancesComplete 2nd floor bathroom rehabPainted entire houseRefinished 1st and second hardwood floors to a darker colorInstalled all new ceiling fans Replaced all doorsDecided to keep wood paneling and not finish 2nd half of basement.Replaced ceiling with recessed lighting and new carpet in 1st half of basement.2nd half of basement cleaned and repainted all surfaces.Replaced water heater, washer, and dryer.Rehab of basement half bath (I feel this was a mistake not upgrading to a full second bath)Fixed gutters and railings throughout the exteriorLandscaping with black mulch and a assortment of flowersPost Rehab Photos:I believe that is everything and all the pertinent information.

Being ready to lease, but finding out that you need to repaint the house 1st after furniture is moved out means take your time. 

repainted and upgraded some furniture and artwork What was the outcome?

Is the situation different it I borrow an extra $40,000 to pay for upgrades/repairs (refinishing floor, repainting whole house, new fridge...) to the house? 

My CapEx portion is 200/mo, 2400/yr, In a 25 year span it's 60k which would cover roof, HVAC replacement, re-flooring, re-painting, water heaters etc.I currently am only limited to on market deals, I haven't connected with many people with access to killer off market deals for multifamily.

All new appliances, retexture the whole interior of the house, repaint the interior of the house, new light fixtures, new furnace and duct work, and new insulation in the attic.  

Since you didn't specify the size of the 1 bedrooms I will use $1000 for cleaning and repainting. $1250/20 months =$62.50 per unit per month for the 1 bedroom and more for the 2 bedroom.

Repainting, cleaning, etc. 

. $500.00Rear Parking area on rear block wall has chipping paint scrape and repaint as needed. $50.00Back door parking area threshold is off and door. sweep.

We had a painter sanding an 1800's house we bought to repaint and did not handle the lead based paint as required . . . found out the work had been red tagged when we came over.