For instance, if you know the roof has 2 to 3 years left or the windows of a 1950s house have never been upgraded, you might want to do that.

After I purchase and complete these upgrades i don’t know if I should sell or hold this property as a rental.

Hers does have upgraded countertops and cabinets in kitchen, Floating floor throughout.

So if you can raise rent 300/mo and want to recoup your investment in 2 years, dont spend more than 7200 on the upgrades.

In general: (1) I think we will need to hire a foundation company to seal the foundation, (2) I think we need to clean the place out & that will take a minimum of 4 dumpsters, (3) the flooring needs to be replaced throughout the house, we need a good flooring guy to go in and get that done, (4) the heating system needs to be replaced, (5) the radiators throughout the house need to be replaced, (6) the kitchen needs to be re done (new cabinets, new counters), (7) the bathroom needs to be re done, (8) walls throughout the property need to be finished, there is bare sheet rock everywhere, (9) trim needs to be added everywhere, (10) staircase rails need to be added, (11) the entryway needs to be completed, (12) front door needs to be replaced, (13) electric needs to be upgraded.

I am in the process of remodeling a Year-1900 ROCHESTER NY house with:New plumbing, adding a bathroom, adding a shower to an existing bathroom etc (Plumber has a permit)New electrical service & circuits, new lights & outlets to existing rooms, upgrade to 200 AMP (Electrician has permit)Kitchen is being updated by general contractor, some new reframing for bathrooms but no major moving of walls. 

Though it's not worth spending several thousand to upgrade a system that doesn't need it.As a personal primary home, you can exclude $250,000 of gain ($500,000 if married) upon sale.

We are updating/upgrading one of the Kitchings (floors, cabinets, and appliances) and adding a new Kitchen to the 3rd unit along with a mudroom since that will be the unit that we pan to move into.

Some people have been more fortunate and have had both the time and money to upgrade their wardrobe, even if it’s just for Zoom conference calls.

The total cost of the kitchen upgrades works out to around $6-7K per unit, if that makes any difference.