No but usually upgrades like flooring and bathroom upgrades should have more of an affect than that. 

We are slowly doing some upgrades to the house and yard that might add value to the right person but really this house was turnkey, ready to live in and we are just letting our room mates help us cover the costs.

You either need to find a property that has the potential to make more revenue than it is currently making (through upgrades or better marketing) or be willing to speculate that rents will increase over time and it will eventually cash flow (something people do all day all over here in CA, but I do not recommend)  

We have two under contract now (6 and 11 unit) that good properties that cash flow, but have upside with raising rents and doing upgrades.

You could always upgrade later if the neighborhood starts to change. 

CapEx are funds that can be used to acquire, upgrade and maintain a property.4.

And honestly, they might be thinking they are upgrading the property.

I know I kind of rambled and this has been very stream-of-consciousness but if you're on the fence, go for it!

Purchase price: $285,000 Cash invested: $50,000 Lived in this house and made many repairs/upgrades.

My business partner and I are acquiring a large portfolio in Pontiac and I would like to have someone I can trust do some repairs and upgrades for us and hopefully keep for quite some time.