Louis, MO Purchase price: $50,000 (short sale) - aunt was agent, so fee was waived (she was helping us out) - borrowed money from grandma for the down payment: $13,000 Material costs: $8000I forgot to itemize everything over the course of the four years, but the improvements were: -blown in insulation-tile floor in kitchen-new bathroom flooring x2-new basement carpet-new basement flooring (previous was rotted through) -new carpet in bedroom x2-hard wood flooring refinished-new refrigerator-painted entire interior of the house-installed two custom closets in bedrooms-repaired and repainted the garage-tore out dinning room drop ceiling, installed drywall ceilingAll the work was done by us, save the hardwood floors.Sale Price: $108,000 less: -$6000 in fees (man I need to get a real estate license) -$5000 in concessions Net: $43,000 $108,000-$33,000 left on the note-$13,000 to grandma-$6000 fees-$5000 concessions-$8000 material costsThe problem that I have is how to value this in terms of holding costs.

One look at that home on Berkshire needs that gutter fixed, all of the exterior wood needs repainting and looks to have wood windows.

. $4K on HVAC in 10 years is a lot as well, $2500 for paint is figuring hiring out repainting every 2.5 years?  

We also repainted.

You do want to spend little as possible as it's a rental and you will be repainting again in few years.

Siding is the old LP and at least two side of the house will need to be redone then repainted.

With improvements in technology these days (ie magic eraser), I hardly have to do a full repaint during turnovers.

In one instance a housing inspector outright attempting  to extort me by failing an inspection and demanding I repaint a house in the middle of winter unless I met him at the property to "work it out."

Some common renovation expenses:Entry level stainless appliances are $1600 - $2000To repaint all surfaces of a 800 sq ft apartment is going to cost at least $1500; probably more. 

If the financial numbers don't work, then re-configure your RE approach (get someone else to mow the grass, fix the plumbing, re-paint, etc).