To me it’s like giving your dog a steak after it $&@$ on the living room carpet .

Update the flooring from carpet to wood and some painting.

If a carpet has a five year useful life, and you burned a hole in it after one year.  

He should go over that place with a fine toothed comb and charge for every little hole in the wall, every scratch on a door, every stain on carpet or walls.

It is currently rented but has not been a money maker due to significant capital, repair, and maintenance costs (painting, furnace, roof, water heater, carpets, and some repairs after a destructive tenant).I have not analyzed the property as a rental, but our PITI is just shy of $1700 and our monthly rent is $2300.

.- We completed minor cosmetic items as the building was only a few years old including paint and carpets.

New roof withing 3 years, new insulation throughout last year, new cabinets 2014. new carpet ect.

That is a great question it really depends on how many properties you own and truly what the value is that each property you can also find a really good CPA that understands how to depreciate individual items such as carpet, Cabinetry appliances etc.

Off the top of my head, that amount covered:- Carpet, vinyl wood floor, ss appliances, painted everything, bathroom tub and surround, replaced all water lines with pex, all new interior doors and hardware, new seals in about a dozen window sashes, light fixtures, gutters, kitchen counter top and sink, trim, new AC unit, new registers/vents, and a bunch of other little stuff that my GC had to do that added up ($)!

Idk if I mentioned this in my OP but I offered to pay for paint, light fixtures, and carpet in the common area; she said no.