Statutes and leases are slanted heavily towards the LL, so when courts get involved, everything will be strictly interpreted against the LL.Once more for the back row: So long as the T pays rent in full, reasonably on time, and doesn't tear up the property any more than normal wear and tear, don't stir the pot.

Let’s say I want to tear down a SFR then build a small Multifamily on it.

It is not available for repurchase and a comparable one is $155 on amazon/overstock.The coffee table was damaged beyond normal wear and tear, something heavy was dropped on it.

One factor, other than wear&tear / other residents / lower-income (humane) prioritizing of pets over prompt rent,that's not to be overlooked:more expensive homeowners insurance

If the existing landscaping is overgrown with large bushes and plants, I tear those out and put something back that is clean and simple with a few boxwoods, green arborvitae, and maybe some seasonal flowers to add some color during the listing period. 

Personally I do not consider either of those two situations to be normal wear and tear but how would you charge for diminished value, and can we even charge for diminished value since there would be no actual repair expense paid to a contractor? 

Both rooms fill with water when rains heavily from the back door located in living areaCockroach infested I’ve been thinking tear down the back two rooms.

If it were mine, I would cost out pulling out all of the paneling, and old wall paper, fixing the original plaster up like new with spackle and etc...then have the whole thing shot with knockdown texture (or a texture they are using in new homes in the area).Tearing out plaster and replacing it with drywall seems like dig a hole fill it in.Then I would cost out having it painted SW Agreeable Grey.If the numbers were acceptable, I would rather have that in my portfolio vs (what I think looks downscale for any market) painted paneling.My gut says, longer term renters on knockdown walls than painted paneling walls--but who really knows, and the painted paneling walls seem in good shape and should be rentable.Maybe work like this could be done by a DIY hammerswinger type single or couple over some time frame, but professionals would probably get it ready for rent faster.Just my 2 cents.

Students tend to put more wear and tear on properties so at least acknowledge that when underwriting your deal.  

Pluming doesn't need any changes, there's an outlet on the wall we are tearing down so I imagine we'll move it (electric) and we would need to move the gas line as the oven is in that awkward half wall and we are moving it elsewhere.