Carpets and appliances will all fall into the same category and at the end of the day expenses will be significantly less than older properties.But there has to be a catch right?

The floors (approx 800 sq ft)  are currently furnished with an older worn out carpet. 

We require the outgoing tenant to clean and have carpet professionally cleaned so it's ready to go.

So that is pretty easy math. repair / improvements went into their allotted categories.But the unit i lived in is the question... put into service in 2020 with back dated improvements...New carpet (2018)New water heater (2018)New oil tank (2019)Also, my second question with my current residence.... would it make a difference if i improve now, or wait til i move out?

What about new carpet or flooring? 

We also have the tenants clean the carpet, windows (inside and out), gutters cleaned, lawns mowed and house cleaned before they move. 

But the room was in such terrible shape with horrid stains on the carpet that we were tempted to call in a hazmat team.

Some examples are we added more cans, upgraded fixtures (lighting and plumbing), quartz instead of granite tops, added 1.5 bathrooms, added 2 fire places, added a waterfall for the pool, upgraded from carpet to wood flooring everywhere, added the theater (theater alone was $17K), etc.

In a normal turnover, if I have to paint, clean carpeting, it'll cost me at least $2,000 if I hire people to do it, so a turnover cost of $2,000 vs $2,100 including me collecting background check fees for several applicants matters little to me.

Improvements after purchase - paint, new carpet/vinyl flooring, new blinds and all new stainless steel appliances.