, FAR (floor area ratio which is the max SF for the lot), lot occupancy (how much area can the building take up on the lot), green area ratio or pervious surfaces (a lot of places now require soft scale or where water can collect and not drain to the storm drain), parking requirement per unit (can the parking be offset if near public transportation), affordable housing, any view corridors to preserve, is it a historical neighborhood, minimum size per unit, and any public enhancements required?

i.e. paint and flooring. 

My capex budget includes roof 25 year life span, floors 10 year life span, appliances and hot water heater 12 year, hvac 20 year life span, bath and kitchen remodel 20 year life span, etc.

@Colin SmithI hear you, but I guess I'm trying to suss out the "you never know what will happen" advice from the concrete language of the law.

As mentioned, I would not be looking at anything that needs more than "cosmetic" updates: new cabinets, appliances, counters, flooring paint, maybe a little tile backsplash and tub surround. 

Floors have a 10 year life span.

Let's look at floors. 10 year life span.

I can now do much more of the painting and flooring install that will ultimately save me thousands!

We market our homes at the top of this particular market - new flooring, nice finishings in the kitchen and bathroom, A/C when possible, and new appliances.

Purchase price: $365,000 Cash invested: $525,000 Sale price: $685,000 This property needed a Interior and Exterior Renovation, and floor plan re-structuring to optimize square footage.