Capex is long term higher expense repairs/replacements like the roof, water heaters, gutters, siding, hvac while repairs are small things like a clogged toilet, broke a fan chain, small drywall patch, etc.

We are constantly looking for something we could put a little sweat equity into but it seems like even people with run down rentals on the market are asking prices that (after renovations) wouldn't pan out to be much different in terms of ROI percentage to just buying brand new.

All new LVP floor covering, mini splits, bath vanities, toilets, paint, fixtures, etc.

She stayed with me while sleeping on an old mattress on a dusty plywood floor, with no kitchen and a gross shower/toilet in the basement.

Not having tenants report maintenance issues and have a $75 toilet fix to turn into a much costlier backflow issue/flood.

But a leaking toilet or sink can soften floors here and there especially in rentals in parks.  

@Scott Jensen thanks for the reply, Your right about going back to the companies if it didn’t pan out

Part of the cost of doing business.Now if your city's ordinances require rentals to have gold-plated toilets, motion-activated interior lighting, and new interior paint every 2 years, then yeah, I could see how that's unreasonable.

We have 24 units and are constantly getting calls that the drip pan is overflowing and unit is not working.

@Tim Swierczek Thanks Tim I will definitely revisit the second home qualifications if the primary route doesn't pan out which is my first choice.