I am not in agreement with @Bsch4477 . Repairing the floor and replacing the floor are two totally different things. As I read and understand your post, you are putting in new flooring throughout the property. You have specifically stated that the floors are "beyond repair". Therefore, your new flooring is a property improvement that adds to the cost basis. It should be capitalized and depreciated over time. Also, going from carpet to LVP flooring unquestionably "improves" the property, and definitely adds value.
Painting is a maintenance expense. I myself paint all of my rentals between tenants, or every 5 years - whichever occurs first. It's a maintenance expense that does not have any effect on the value of the property.
