After his contractor walked it they noticed some knob and tube wiring,  U City would have made him upgrade all the electrical if he wanted to get a permit to put in a half bath which would have killed the deal.

Walking distance from great restaurants and nightlife.Condo property is nice, has a swimming pool, big gym, covered parking spot.Condo is from 2005 but has had no major updates since then, so it's "ok quality" but has no great upgrades in place, is builder qualityI owe about 100k on the mortgageHOA fees are about 300 per month.Property Management Fee of about 150 per month. 

I've mostly done cosmetic upgrades and cleaned up the property.

I've mostly done cosmetic upgrades and cleaned up the property.

OR would you wait until spring and take some time to add upgrades to the rental (thinking an in unit laundry even though there is a shared one in the basement), possibly painting the kitchen white, etc.- Is it expected that we will share the backyard? 

I new owner situation is a great opportunity to increase rents by simply talking to current tenants, doing a few inexpensive upgrades such as good cleaning and paint here and there.

Just some background info, I'm not a speculative buyer and will likely be looking to find a home with minor cosmetic upgrades needed before it's make ready.

Not staging, cleaning, making the right minor updates or preparing the house by decluttering, pulling weeds, cleaning surfaces and windows, painting rooms a neutral color, updating door knobs from 80’s gold to something more modern etc. just making inexpensive upgrades that can really boost the salability and value of the property. 5.

and refunds to guests2) Hire amazing people - cleaners, handyman, recruit some neighbors to help fill in the gaps, & self-manage or hire an offshore VA to manage the property if you'd rather make yourself rich instead of making a local property manager rich (more on that here: https://www.biggerpockets.com/... )And make sure that your cleaners and handyman are not only doing a top-notch job of keeping the house in pristine condition, but they are also reporting to you (or to your PM or to your offshore asst) every little thing that needs to be upgraded or replaced so that you can stay on top of it and take care of things before you hear it from your guests in the form of guest complaints and bad reviews.

Each will need approximately $10K-$12K in upgrades/repairs.