We already had one situation come up where our renter plugged the kitchen sink with the faucet running, stepped away, feel asleep, and it ended up overflowing and damaging the cabinets and the unit underneath.

-Stackable Wshr/ Dryr BONUS, Hampton Bay Cabinets, Apache Blk/Wht Porcelain bcksplsh pops Butcher Block Golden Teak Counters, LED What made you interested in investing in this type of deal?

Are your cabinets Ikea?

Some investors will use (and markets will command) 15-20 years for a roof and others get 25 (or more) years, some get 10 years out of HVAC and others get 15, 20 or even 25 years...and pay $2,500 for full replacement (inside and outside) versus twice that amount, some investors/properties/markets require structural or mechanical replacement in 20-30 years where others get way longer than that, some pay $300 to paint a full interior unit (trim and all) and others pay thousands (not cap ex but you get my point), some need to replace cabinets every 20 years, others can be painted and last twice that long (or more), some investors pay $1.00 per sqft installed for flooring and others pay 2-4x that amount...the list goes on...huge variations by asset class, market and investor.  

Current issues: - potential roof penetration-plumbing do to leaks -cabinets (there was a leak under the sink and 3 drawers aren't working, do I price for a new set of cabinets?)

It was located in a seventy year old group of neighborhoods that we believed to be at the cusp of change and within a 40 min drive from our home.Purchase price: $157kProperty Condition: The owner who lived in the property knew just enough to do a lot of shoddy work on the house himself and we figured there would be some surprises during our rehab, Three years later there is still the occasional surprise, like the upper kitchen cabinet that came crashing off the wall because it was not connected to a stud.

It is outdated as far as old oak cabinets and linoleum tile in the bathrooms and kitchen.

Even though the Assocation insures most of the building elements, you as the unit owner usually own some of the elements (determined in the bylaws) such as cabinets, sinks, sheet rock, paint, floor coverings, internal electrical or plumbing, etc. 

Same thing when the formal background check comes in.File this one under sociopathic liars: A tenant and his family that painted the property, stained the cabinets, installed a backsplash (all poorly done and without permission), removed a light fixture, spray painted the patio, damaged the new appliances, ruined the carpeting, and more.Our fault for not inspecting regularly, but the kicker was when I told the tenant I had before and after photos and would be pursuing legal action, the tenant actually said that all that damage was there when they moved in, and all they did was paint!

Ex for a kitchen remodel are you going to paint cabinets and get new appliances, or mid range like refacing cabinets, replacing light fixtures and hardware, and buying new?