The biggest lesson I learned from both the GFC and today's market cycle is:If you go in with a long term mindset, you will (almost) always be fine.Short term debt is not an option if you plan on holding 10+ yrs.Capex budgets become less of an issue (I know of more than a few syndications that have fixed rate long term debt, but are suffering because roofs, repaints, foundation issues, etc are becoming real issues now that the deal is no longer a 3 yr hold, but rather a 8-10 yr hold)And like BRRRs, even refi's start to become more realistic when you budget for long term holds.Yield maintenance/prepayments become non-issues when you intend to hold long term.Lastly, like Brian noted, what I see is that if your goal is long-term security in your investment, typically, you go with well seasoned investors. 

In 2018, the HOA issued a violation and informed us, we need to repaint the entire exterior of the house.  

Swapping them for new, efficient models is a quick update that looks good and works better5️⃣ Refinish Cabinets:Instead of replacing cabinets, refinish or repaint them.

That means pulling weeds, tidying up the yard, and repainting if the exterior looks like a neglected property.As buyers approach, the front door should look fresh—repaint it if needed, and make sure the hardware is clean and polished.

We invested $17,000 in renovations including repainting, AC installation, refinishing floors, resurfacing kitchen cabinets, and updating bathroom fixtures.

We invested $17,000 in renovations including repainting, AC installation, refinishing floors, resurfacing kitchen cabinets, and updating bathroom fixtures.

It needed updates throughout, including the kitchen, bathrooms, flooring, and lacked AC.We completed targeted renovations—resurfaced cabinets, installed new AC, updated baths, replaced flooring, and repainted the interior.

We invested $17,000 in renovations including repainting, AC installation, refinishing floors, resurfacing kitchen cabinets, and updating bathroom fixtures.Post-rehab, we increased rental income from $650 to $800/month and projected an after-repair value (ARV) of $100,000.

Turn overs take a little more time and effort... we will go in and clean up things that need fixing... like maybe repainting the unit if the walls are looking a little worn / tired.  

It's usually cleaning, re-painting, furniture removal, etc.