They were large 1 bedroom units with dining rooms, I converted certain rooms within the structure to other functions, updating the bath and kitchens converting the units into 2 bedroom units.

Plus, there are a lot of older homes (brick ranch) that need updating and renovation.

I put 3.5 down, and after that started doing a bunch of updates that have created value (hidden bedroom/ half bath) before I had any idea they could be such good ideas.

**UPDATE** So I asked the PM to cancel the contract and they complied with minimal fanfare.

Update them at least once a month. 

duplex is a 2/1 on each side one side rented at 700 month the other side is 675 totaling 1375.00Could use some updating.

@Mindy Jensen The cost to update the utilities will include the additional 5 pads.

This ultimately led to me offering them the opportunity to break the lease early which is fine with us; the unit needs updating and sooner is better.

The house is super renovated with polished hard wood floors, brand new paint job,  updated appliances and kitchen, and both bathrooms are updated and super modern.

These numbers can always change just as long as both of you make adjustments and update operating agreement.