The building was in need of repair across the board from interior to landscaping... the prior owners were paying for electricity out of pocket so prioritized that as the first 'fix.'

The building was in need of repair across the board from interior to landscaping... the prior owners were paying for electricity out of pocket so prioritized that as the first 'fix.'

, electrical work had some DIY issues, deck needed staining, landscaping was not in great shape...knocked all of this out in a single weekend with some help from friends.

The landscape has changed with institutional buyers, ibuyers, instant and uniform access to information, Zillow placing all home listings on the internet, tons of cash floating around, lenders pushing money like dealers push drugs, etc. 

Minor cosmetic and landscaping upgrades.

I PM several properties myself and it’s mainly about having a team of vendors in place like a landscaping crew, a handyman, etc.

Exterior and common area renovations may also be made, such as updating or adding light fixtures, a dog park, covered parking, or landscaping.

Below is what I have seen as far as rents and average annual expenses in this asset class.Market Rent:    $1000/unit (fixed up)Annual total:   $24,000 (Gross rents)Vacancy:         $1200/yrProperty Tax:   $1750/yrInsurance:       $1080/yrProp MGMT:     $1920/yr (8%)Landscaping:   $1200/yrMaintenance:  $1800/yrCapex:            $1200/yr (check age of roof $7-9k to replace and HVAC $4500-5200 to replace)Total Expense: $10,150/yrNOI:                $13,850/yrMortgage PI:   $13,412/yr (20% down on $210k purchase, 30 yr fixed at 7%)Cashflow:       $    438/yrCertainly not a homerun by any means, but it gets you into the property.

It was a good property but it had not been updated in a long time, it was smoked in, and the landscaping was in disrepair.

There's a ton of landscaping to be done.