Seriously—most owners who ask about this have beautiful, well-designed spaces and high hopes that someone else will love and appreciate it, too.But here’s the thing: when it comes to long-term rentals, “partially furnished” often creates more problems than value—for both you and your tenant.Here's why:🔹 We can't screen for taste.Your future tenant might be responsible and respectful—but that doesn't mean they love the mid-century console table or know how to care for a vintage rug.🔹 Sentimental value is risky.If that piece of art or that armchair carries personal meaning, you're setting yourself up for disappointment.

Harder to find large multifamilies in RI that aren't more vintage 

Try your best to not have carpet transition to more carpet so in the future you can easily replace just a bedroom without worrying about the color being mismatched due to fading or that particular stock no longer being available. 2" faux wood blinds hold up significantly better than the 1" vinyl or aluminum.

The issues sound familiar, we have a lot of 100 year old homes in Milwaukee (and I have been rehabbing many of them for over 15 years).Basement:Very typical for a house of that vintage. 90% of all dampness in basement walls comes from poor surface water management.

This cashflow is quickly wiped out to as expenses stack up)My thesis and we execute this is:We buy newer vintage properties with seller financing about 10-15% below marketGreat asset/ property management - keeping expense ratios low.Paydown + 2-3% YoY appreciation gets to the 2x multiple in 5 years on exit after expenses.

I would also add the following:Has the sponsor done other deals of similar vintage assets in this market. 

People love those little vintage campers.

Most of my portfolio is 70s-90s vintage multi-family in NE Ohio.

Or, you can buy a $40mm vintage Ferrari.Your idea of full rehab, slight rehab, and cosmetic is likely different than most people's.  

Vintage charm and modern demand.