I should also point out that this is largely because of how each expense is repaid.... for example, if I get new water heater I might pay upfront, new carpet maybe over 18 mo, bigger project could be longer/shorter. 

It’s immaculately clean, paint/trim is fresh, new appliances, new fixtures, new carpet/floors.

Such as new carpet, bath remodel etc.

Our house has been updated over the years of living there(all new paint, re did bathroom, granite counters, new carpet) so my question is do we try and sell at a higher mark and cash in on our house and put some in to the new house to build equity and reinvest to a rental or do we keep our old house as a rental, which would be the nicest rental in the area?

I am just double-checking other options. 3- Based on my calculations so far, the damage and charges due to cleaning including vertical blinds, wall and carpet cleaning exceeds their security deposit amount.

This property is managed by a PM who filled me in on all this gore and how the carpets are worn out, will need complete paint and so on.

When ripping up the carpet we found wood floors in living room, bedrooms, hallways and dining rooms.

It's hard to say without seeing it, but the big things are of course the paint and carpet.

What was done:Painted inside and outPainted roofReplaced flooring with new laminate, tile in baths and carpet in rooms.Replaced the tub, vanity and lighting in the master bath and tiled the shower and floors.Replaced the vanity and lighting in the guest bath and tiled the floorsPainted and repaired cabinets and installed granite counters and subway tile backsplash.Moved master closet door from the inside of the room to the bathroomRemoved original closet door in hallway and moved it to the master bedroom so that the master had a "his and hers" closet.One of the smaller rooms had a cubby hole next to the closet so you could fit a small desk and chair.

I’d rather lose a potential tenant than carpet and subfloor from urine .