If you're units are out-dated, have poor appliances, older carpets, or whatever, and places going for market rents are updated; then you make the improvements to warrant the rents.

A few big expenses, all new carpet, granite in kitchen, tiled bathrooms, paint whole house.

Originally posted by @Ned Jackson:Apparently you LOVE to do tile work :)....that's a LOT of tile..... looks nice..good job As I often rent out, I prefer as renters are often pigs and tile cleans easier than carpet..

The wife got into drugs, let a bunch of people move in, and basically destroyed the house – gutted the copper wiring and plumbing, destroyed the laminate flooring and carpets (assume subfloors are OK but need to verify), stopped garbage service and piled it in the backyard.

You want them sending you listings with paint falling off the exterior, horrible yards, dirty carpet, and old kitchens.You should be looking for listings with yellow, pink, or green tile bathrooms.  

Busted doors inside, cigarette butts everywhere outside, dog pee soaked into the carpets and padding, beer splashes all over the walls, complaints from neighbors.

All other work (hardwoods, carpet, painting, drywall patching, roof, landscape and plumbing) was completed by contractors.

You could also probably put a self leveler down over the tile (if the manufacturer allows this) and then go over with the LVT or carpet.

Recent paint and flooring (wood laminate and carpet), lighting and plumbing fixtures and fans.

That is typically a light rehab, just a little better than paint and carpet.