The most common cause of this is where desirable areas get built up and the only option is to improve in place or move significantly further away.It seems really silly to rate a mansion in a desirable area with high prices, great schools a C just based on some horrendously dated cosmetic issues. 

No mortgage, minor cosmetic work needed.

I guess my worry is that I spend a bunch of money now on something that is relatively cosmetic and then when the lease is up, the tenants leave.I've been pretty good about fixing/replacing everything else up until this point including a few big ticket items like A/C and dishwasher

It is a small job, I estimate only 5-7k of mostly cosmetic work, but I want to get a GC opinion because I don't have the expertise to assess larger items like the roof, HVAS, etc. 

You don't make extra for frill but you will pay more.I buy cosmetic fixers uppers.

We buy short sales that are cosmetically ugly  but in realty are benign.

If you connect with those folks and ask questions routinely, you will get the same benefit as having a mentor.

Minor cosmetic repairs are needed, floors and paint, and maybe some new appliances, all together off hand maybe 10K in rehab.

Need minor cosmetic fixes?

I am just looking at what I should be prepared for.First, the property:2/1 Twin 936sq ftRadiator heatNo A/C at this timePurchase price:  $20,000Rehab Costs:  $35,000 (hypothetical,  I am assuming one major repair on top of cosmetics)ARV:  $95,000Rehab costs are inflated.