So I tore up some carpets in this house and found some wood flooring underneath that seems pretty salvageable.

Taking out a wall opening up the kitchen and putting new cabinets in, also putting new carpet in the living room.

As to depreciation, it's a lot more than 27.5 years, especially if you replace carpets, hot water tanks, and guidelines of expensing vs depreciating had been changing, especially in recent years, and I let my CPA determine those for me.

They also rip off large sections of dry wall and molding and tear up sections of carpeting.

I purchased it for 40,000 I painted it replaced the furnace, new carpets in the bedrooms and a bathroom renovation, I'm into the house for 45,000 (I do all the work myself except for the furnace) Property taxes are 1k per yr.

Needed a little bit of work - removed old stinky carpets, paint, new water heater & electric central AC unit by home warranty.

However, all 3 of your properties need new carpet ($3,500 each), roof and gutter cleaning ($750 each), and exterior cleaning ($1,000 each).

Tenants in lower end areas will likely be rough on your unit, so with that in mind, skip carpet obviously and go with something solid and somewhat water proof as spills are likely too.

These types of homes don't require high end renovations and you can get away will builders grade carpet, fixtures etc...I've also looked at investing out of state but like Baltimore, all unfamiliar territory and a weekend trip won't tell me much- but boy are the deals tempting.

thing is basically, "change the carpet and carpet pad and it'll 90% of the time get rid of the smell.