Repainting the interior of the house2.

Repaint, refinish floors, update aesthetics, fix imperfections/wear and tear, new appliances and landscaping.

I frequently put match Formica up behind the counters in the kitchen, it looks great, is cheap, and no need to repaint worry about splashing water, ect.

I was thinking about cleaning and repainting it instead of paying $500 to replace perfectly functional if cosmetically ugly windows.

We were able to get through the rest of closing and walk out of the room feeling at-ease, and a bit excited about the transfer of ownership.Turning to the renovations, my property manager and I decided that the walls definitely needed to be repainted.

Or, you can buy in an area where incomes are higher, crime is lower, and more qualified buyers want to live there, but then the cosmetic upgrades leave no margin (almost every owner-occupant is willing to repaint and refinish floors over time).  

I replaced all of the windows with vinyl, repainted everything, and have a lead based paint disclosure in my lease.

If you are talking many years, then that's easy - take your personal items and put them in storage (or bring them with you), and accept that the rest of the house is just walls and floors and as long as the tenant doesn't burn the house down or cut down all your landscaping, everything else was going to wear out anyway whether you or a tenant was there, and when you put your personal effects back in and repaint, it's just like home again.

At first I thought it just needed simple cosmetic work; repair some of the tile floor and repaint the house.

I had to replace 4 refrigerators, 2 stoves, repaint 3 units, redo flooring in 1 unit, and on top of that had to start a eviction the first week I bought the property.