Paint job, tile work, fixtures, etc, and such basic upgrades if needed.I would like to get $700-$800 in rent per house and I want to buy for $40,000.

My background is in construction so I target the properties that need repairs/upgrades and even major issues and I handle the rehab myself as the GC.

I currently have a sfr under contract from HUD. 3/2, 18 years old that needed, until today, about 8K worth of upgrades & reno. to flip, LTO, or rent if it didn't sell quick enough to suit me.

Certainly some of these people are motivated sellers, they downsize, they upgrade, they relocateand they probably get less mail from investors...

Than I would move halfway and upgrade to another good rental.

I do have a few questions as to what you feel are solid investments in the above if I am looking to hold a property long term as a rental.1) What upgrades improve the price you can ask for rent?

Sell the property but do a 1031 exchange (so you don't have to pay taxes on the sale) but if you do #3, you need to buy a property with a higher basis - maybe upgrade to a 4-plex4.

I purchased it with 5% down payment, then spent another $2500 on upgrades DIY.

I have been looking on Loopnet ( with the free membership - Is it worth the extra $$ to upgrade?)

@Al Williamson it is a good problem to have and I hope as the units are upgraded I continue to have it.