I run near 100% occupancy and actually have guests asking to be on a waiting list if another guest cancels.Part of this is that I've done split testing on everything from shampoos and towels, to paint colors on rooms, not to m mention the ad copy on the listing.  

If you have $5k in a reserve account, but what happens when by some odd coincidence every appliance in the house dies in a six month span, the tenant vacates and it just so happens the carpet is 8 years old an needs replacing before it can be turned over, and the entire place needs a new paint job.

Some drywall patching, painting, exterior damage fixing (mostly rotten soffits/fascia boards), and a lot of junk removal.

Disclaimer:  First post.What color are you thinking of painting the stairs? 

Painting, carpeting etc.

every state will be different and laws change all the time, check with state and local regs, ccos etc, like in Phillys landlord has to be licensed, and give tenants copies of inspections etc, some areas its just a lead base paint brochure, many brochures you can download or buy cheap or free, make a master list of what should be in each packet to check off, be careful in changing wording legalize like may to must...., be do personalize to each situation as it applies, say sfh doesnt have common areas, most states offer landlord tenant laws and sample leases free, hud does, be careful about just downloading anywhere as may or maynot meet laws, or you could hire a local attorney to look over what you right up, either way be very careful what you ask on screenings, and keep all,ALL records even those turned down, make your data base and have a back up disk, I used to just print out a only few forms ahead because laws change and printed names in leases are easier to read, dont go by someones advise or their lease etc, make sure your is as legal as you can, it is a legal contract   dont ask questions like married?

My apartments are standardized at this point --  standard paint colors, Cherry Allure floors, basic white appliances.  

You probably could do that one if you know how to paint / drywall / install cabinets / tile / lay floors, etc. etc.My guess is that while this is all very appealing, you may save 9% or more but it may take you twice, or three times as long to finish.What happens when a construction conflict arises and because you're not sure how to solve it, all your subs pull off the job until you figure it out.

Almost half the size of the greenville one, BUT much nicer area, closeby to lightrail and BRICK. no parking though... needs a little renovation in the second floor kitchen and painting, but overall turnkey also.has washer dryer. backyard garden and shed.returns are somewhat similar although if i am realistic can squeeze out quite a lot from the west new york one. not so sure about the greenville one - havent been there myself much.IMO renting a 3 bedroom 1 bath seesm quite tough, and fetches same as a 1 bed 1 bath in west new york area - which is full of businesses, people.on the other hand, greenville is on fire and the property is nice, brand new, could be big appreciation in 5 yrs or so?

Paint is an option but not the best looking.