Make sure to note any damage the cat has done as well, including smells/carpet stains/etc... and record this to take out of her deposit. 

Realistically one vacant unit per year could eat up $3000 in paint, carpet and other upgrades.

White Laminate countertops, all carpet.

@Vincent PlantIt sounds like your cash flow is slightly less: consider setting aside 10% of the rent for repairs (paint, carpet, plumbing, etc.) and 10% for capital improvements (new roof, new HVAC).Consider paying any debt with high-interest rates (anything greater than your cash on cash return).Save the balance for your next deal.Good luck,

., cleaning, carpet shampoo/steam, paint etc.

It will need paint and carpet.

The bank should provide some guidelines on that.All parties (contractor, bank, and homeowner) should draft the scope of work to be performed in as much detail as possible (example this type of carpet, this type of doors, etc.)Once the scope is agreed upon, the contractor is to provide you an estimate and a schedule (consider using a guaranteed maximum price type contract, this basically holds the GC to a ceiling). 

The carpet they supposedly cleaned stunk like dog and urine.

Kitchen Cabinets with fist sized holes, an overflowing AC drain that went unreported for lord knows how long, causing standing water & mold growth along the entire back half of the house (hence the water issue), and we found a nice pit bull puppy (no pet policy) that conveniently ate carpet + pad, chewed window casings and doors in EVERY room.

or do I spend a little money on the carpet and pad in hopes it will last longer?