I have tenants who just moved into my condo and are requesting compensation for: (1) repainting (I had to repaint a wall in a different color than they originally saw when I took down my speakers); (2) loud bathroom fans in each bathroom; (3) Ceiling fans that are outdated but functional; (4) wall wiring so that their t.v. does not reveal the wires; (5) fridge filter which admittedly was old and they noted that my flooring has a soft spot but did not request replacement (yet!).

Adding sq ft must be functional. 

That is, if you are aiming for a positive cash flow.If you are in the market currently, you could use a combination of cash savings and equity loans...What are your thoughts?

@Patti Robertson Yes, I could outsource, but for most functions I want to be able to control the quality of my management services.

25735 Lorain RdUnit 306North Olmsted, OH 44070I bought a condo for $14000 and it rents for $640 a month which comes out to 4.57%...Keep in mind this is one of my best performing property and I basically was in the right place at the right time, but sometimes all it takes is luck.116 Water StElyria, OHI bought for $24000 and I get a combined $1100 a month which comes out to 4.58%...

It really comes down to "intent" when you purchase.Sometimes investors will use a strategy of combination buy and hold then sell the property in a couple years and do the 1031 exchange (or pay the long term capital gains). 

demonstrates a fundamental misunderstanding of the function of local real estate markets, and willful ignorance of the old maxim, "Location, Location, Location." 

Especially, if it prevents property to function as intended (restricted access to mailbox, unable to use part of the driveway) it's more of a repair than the maintenance?

ABC's of real-estate investing is a good book for this section of the market.Webinars at BP  usually one a week.All of the above are well and fine, doing teaches you more than all of it combined.

While CCR is static and IRR is dynamic, both are first and foremost a function of the investment of cash.