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I have spent money on rentals. Including restaining hardwood floors, moving walls, replacing faucets, adding electrical, painting everything, new moldings, ettc...
I finished a basement in one house I rented..
I always feel out the owner first but I don't necessarily tell them..
I would stay away from bathroom stuff so you don't risk opening a can of worms.
In the end you have to live there.. Just consider how long you will be there for and how much it could cost.. If it's worth it to you do it..
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