If we purchase this home, the next time that it is vacant, we would plan on investing about $3,000 - $4,000 for new carpet, paint, etc...  

If it's just paint and carpet, it's hard for the appraiser to justify a large value increase.

Just wanted to give an update, Tenant refused the relocation fee but agreed to a rental increase to $900 a month for some minimal improvements (washing carpet). 

We cleaned, painted, remodeled bath rooms, new window coverings, new light fixtures, ripped up carpet and replaced with Allure.  

This month I have scheduled appointments to replace carpet, water heater, add a gas meter.

It is cold and it use to have carpet glued down but has been removed.

Their dogs trash the carpet and scratch all the doors and trim.

I am almost finished with the inside as new carpet needs to be installed. 

The ceiling was already that height when I purchase the home, I did add carpet and drywall around the area.

Financials-Credit Score: 750-800Non-retirement Savings: $30,000Real Estate Holdings-Aforementioned SFH purchased for $117,000 (4.25% interest rate).Recently sold comps ~$135,00-$150,000 (we put sweat equity into the house- new paint, DIY hardwood refinishing, replaced carpet)House is 3 bedroom, 1.5 bath rambler with double attached garage, patio, and attached 3 season room.