it's a 2 bed 1.5 apt, in a lower class area. I could get ceiling fans installed in the living room and both bathrooms for a total of around $500. thoughts? worth the cost?
@Brandon P. Your post title says "B" class neighborhood. If that is the case I would install the fans because the tenant class is more likely to be responsible.
In a lower class area like you mentioned in your post I would skip installing them and save the $500 and use it towards the increased maintenance issues that undoubtedly will come up investing in a lower income area.
I would install them. If it keeps the tenant comfortable, they may stay longer, thus decreasing vacancy and increasing cash flow. However I live is a hot climate. Not sure about how necessary that is to comfort where you live. Some people may try to use less AC power and more fans to save on utilities. I may be thinking too far into this but perhaps a little food for thought.
I have been accused of over-improving rentals but I also keep my tenants a long time.
Best approach is to not install fans since it is only another item to break and be repaired. It will not be missed and does not add value. You need to draw the line between necessary upgrades and "extras". Fans in a C/B are not necessary.
If they ask to have them installed, which is unlikely, agree to install at their expense.