You may be able to argue that the tub is at the end of its natural life expectancy. 

Maybe find a place that just needs some light updating and fix it up while living there. 

Start off with a deal that needs light work and work your way up to the full gut jobs once you gain confidence.

Look for places where current rent is under market and then plan to do some light rehab/repairs after existing tenant moves out to raise rent.   

Naturally.

but, I'm sure they try to put #s in most positive light. 

Recessed lighting?

@Justin Tahilramani The condos are in 5 story buildings with no natural gas (in the resort at all)...and the only propane is to the pool heaters. 

Thats just the nature of home ownership .  

Updates include custom kitchen, updated baths, new windows, new door, modern laminated flooring throughout with new baseboards, tankless water heater, new light fixtures, beautiful landscaping.