Both units have been fully renovated with new appliances, tiled floor throughout, granite counter tops & freshly painted.

I heard on one of the early BP podcasts from 2013 that the guest has a punch list when they move in (condition of unit components) and when they move out (including cost of cleaning unit/appliances, replacing bulbs and other items, etc..).

There are folks who will pick up appliances to recycle the metal.One area I work in will pick up anything you have that is not HAZMAT at the curb with a giant claw for $30 a ton. 

New PVC fence, new landscaping, pest extermination, new paint, updated bathrooms, updated appliances, new carpet, heavy cleaning, serious trash cleanup.

Even with an HOA that includes exterior, you have to take care of the interior. appliances and hot water 12 year life span. floors 8 year life span(some use 10-12 year life span),hvac 20 year life span.

@Ryan Short one of the major issues with knob and tube is that the systems were typically spliced into over the years and this can easily cause fires (in addition to overheating from the loads that current appliances draw).

The only things I’ve really saved on is appliances.

I have contract with Warranty Co. for appliances - if appliance cannot be repaired they replace it.On Monday tenant says there is a leak from ice maker.

You still have to account for roof 25 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span etc.

I added value by installing all new systems, finishing attic, expanding attic bathroom, expanding kitchen, new flooring, new carpeting, all new tile, appliances & granite counter tops.