If you need money from an IUL, it takes 3 days which is a lot faster than trying to sell a house. 

I would check pictures of other similar rentals in your area using zillow or similar websites to get a rough idea of what kind of price points you can expect for both renovated and unrenovated properties.Even if you can't necessarily get an increase in rent, or much of an increase, sometimes having a nicer unit will allow you to find better quality tenants, and find them faster. 

"Nice family ... money drains out faster than it should ...

Is it going to deteriorate the concrete slightly faster, possibly, but you are not looking at imminent failure from what I can see in the picture, and likely will not effect resale in the slightest.Beyond that, you can try to lift it, cut out the trouble spot and re-pour, asphalt over, or completely remove and repour. 

@Kishun Barker you can scale faster

You wouldn't pay more if the property had a nice clawfoot tub but it might help to sell or rent faster (an argument could be made that you can then charge a little more because it was renting faster) but an appraiser wouldn't give you much because of it. 

I think that would take some responsibility off of your plate and allow you to scale faster if you wish.

I believe years ago there was a chattels website where you could break out faster depreciation items to increase your early year tax advantages and do it in a low cost manner to make it beneficial.

We have been able to achieve our goals in real estate even faster than expected.

Others realize at 5-10 doors that to scale faster they need to pick up new skills (I hit this piovt point at 20 doors... late bloomer!).