Earlier this year I sold a house that I had been renting since we moved out of there in 1982. I figured at 61 I was getting too darn old to be playing landlord. Well, when I went in there it was a disastrous mess.
I worked on that thing EVERY DAY after work and weekends from the beginning of July through the end of October... man, that was a LOT of work, but I was pretty proud of the result. I put it on the market in November right when the boom started to cool. It finally sold in March '06. I drove by there a couple of months ago and saw that the people who bought it just let it go... it didn't make sense for them to pay all the money they did (a pretty penny -- no fancy $2 bills) and let it go to seed. The flower beds were full of grass, the rose bushes and flowers I worked so hard on were all dead. It was a sad sight.
...then I thought, "It's not MY problem, I don't have to go over there anymore to fix anything up"
Have a good time remodeling, hope you get some great tenants.