Once of the units still has the original carpet from the last remodel in the 70s/80s (This ugly red "shaggy" carpet).

I am using wood look sheet vinyl as well...in the kitchen, baths and living room and carpet on the stairs and in bedrooms.  

When I bought it at a wholesale price they had just painted in interior, put brand new luxury vinyl flooring down and brand new carpet and light fixtures upstairs. 

My CPA is also wanting to depreciate the entire renovation expense over 27.5 even though there's personal property components with a 5 yr depreciable life where we could take advantage of 100% bonus depreciation.I argue that improvements shouldn't go into the cost basis and instead as operating expenses since the renovations were done under the normal course of business especially since a nice chunk is for labor/contracted services as well as actual improvements, material/supply purchases and personal property components (i.e. carpet, appliances, kitchen countertops etc). 

Carpet and paint in one unit would eat a big piece of that.

It needs a new roof and several cosmetic updates (re-tile bathrooms, refinish kitchen cabinets and replace countertop, new carpet in bedrooms, paint everywhere, etc.). 

We would happily give out the banks we use or our vendors (carpet, electrician, etc.), but we don't give out our contractors.

A “Standard” cosmetic rehab we include: All New Flooring (carpet and hard surface floors), Interior and Exterior paint, baseboards, electrical and plumbing fixtures, new kitchen and bathrooms (including cabinets, granite, appliances), blinds and window treatments, doors and a little bit of landscaping such as a flower bed or some plants.

The one has a nice shiny finish but the carpet pad left gooy spots.

The carpet is approx. 5-6 years old, new when he moved in.