I bought this duplex 5/17 and put in new appliances, floor and paint. 

Tenant A moves in, trashes the place, lets their animals crap/piss everywhere, paints the walls black, lets the lawn die, doesn't pay rent and utilities for four months, and then disappears.

Be sure to paint the wall behind before you install the toilet.

It's easier for them to just ram through a new city ordinance and paint the state legislature as the bad guys when it gets overturned. 

At that age, some probably need roofs, HVAC, water heaters, etc. and all need carpet, paint, appliances, the list goes on and on.

And of course, in older homes, if you're sanding, etc. be mindful that old paint often contains lead. 

I would calculate for paint, flooring, and new kitchens for all units if you plan on doing that and add big ticket items on top of that.

They all need the same basic updates, kitchen, baths, carpet and paint.

Remember that the City of Philadelphia has its own lead paint disclosure requirements.

My understanding of that is things are new so they shouldn't break but if they do the builder has to fix it....it seems that lease-purchase tenants tend to take better care of the property...New homes and a warranty is not a bad thing… I was more referring to things that could be damaged that would not be covered like paint and carpet etc.