Maybe replace appliances if you want to but your best answer would be to look at what other rentals you are competing with?

A few scholarships and a chemical engineering degree, ramen noodle soup, and PB&Js allowed me to buy the house I live in 1 year after graduation.

I have spent $35,000 in a  37 unit community in  the last 3 years replacing water lines, and I have another $40k to go to finish the water lines and replace the electric services.

:D After this meeting, I will be stepping down as the main engine behind this group, so I'm hoping others will step forward to fill the gap.

The doors had to be replaced because the dogs would try to chew there way out!

We also were able to convince our buyer to kick us back $5k right after closing as a "cleaning and touch up fee," and told them that we'd paint the place and replace all carpet for doing so.  

I don't want my payments to go up until I can find another investment property to replace the income I am going to be losing.

I hired a window company to replace them and usually find that hiring specialists is more time consuming (when building your team) but typically results in faster project turn-around and better control over each aspect of the rehab. i.e. fire the ones that suck without impacting other subs.

I rent class C properties, but I make sure they are the cleanest property a tenant moves into so it is typical for me to paint, clean/replace carpets, make sure the place meets my requirements.

I use 0.6% of replacement value for my annual premium estimates on SFHs and it hasn't burned me yet.