What I typically see (10 years on a university President's cabinet ) is that the client ends up about exactly where they would be by cashing out and the organization benefits to the tune of the deferred tax. 

Paint, carpet, flooring LVP some bathroom outgrades and paint out or reface cabinets for now.

This is a deal we did a few years ago and while it's still in progress we're still pretty excited.The Deal : 200 unit C+ class asset in Bloomington, INAcquired in 2016 for just over $10MM$1,000,000 ($5k/door) value add program including: leasing office remodel, adding W+D hookups , new laminate countertops, new flooring, cabinet upgrades, new door hardware, lights, paint.Targeted $150/m rent bumps.

Still have roof, appliances, painting, HVAC,hot water heater,kitchen and bath cabinets, etc. 

Located in Ontario Canada, I have found a property that needs some TLC/reno attention.It currently is listed for 299 and 2 comps in the exact neighborhood are selling at 399.My thinking for the low listing is lack of HVAC, central and outdated kitchen cabinets, paint and flooring.

We ended up with the design below:(Note: The final cabinet layout may not be reflected accurately here, but the general layout is the same)Construction PhaseWe started the construction phase early June.

Now if they need to order cabinets and items that have to be ordered that is a different story.

Your wife has to look past the ugly carpet and cabinets and see the end result or has to trust that you can see that.

Every time I watch the shows and read blogs about flipping most of them talk about how they change the kitchen cabinets, completely renovated the bathroom, new floors, fresh painted walls.

I refinish tubs, countertops, and cabinets.