For quick turnarounds, focus on the small details and save major improvements for when you have more time. Think light cleaning, paint touch-ups, bulb and lock replacements, and new batteries in smoke detectors and thermostats.

A week should provide enough time for light repairs. Patch holes in walls and doors, fix leaky faucets and toilets, adjust wobbly ceiling fans, and add a fresh coat of paint to common areas like stairwells, hallways, and lobbies.

The best time to replace appliances, faucets, lighting, ceiling fans, water heaters, and smoke alarms is in between residents when the units are vacant and easier to work in.

Empty units may cost you in the short term, but when renovations are complete, you may be able to increase occupancy rates and charge higher monthly rent.