A C-10 Electrical contractor can explain how to split the units, you may have to sub meter yourself.splitting a single unit in 2 is generally more complicated than building a common wall. 

Does anyone have a color suggestions?

How do you find and compensate a good designer for overall material choices and color selections? 

Quote from @Jaron Walling: @Aline Elad You said "we" so assuming you're married you can exclude up to $500k, or $250k single, in capitals gains if you lived in the property for 2/5 prior years. 

Holes in the walls.

The conversion will also have a 5x10 walk-in pantry that is open from the kitchen (garage and kitchen share a wall).  

with no seasoning on this model I suspect its some portfolio type lender.. but who knows maybe wall st is at it again.. now they know they have their bottom feeding hedge funds to  pick up the crumbs when their loans default  :)))

So, whatever it is... eat the same meal, listen to the same song, wear the same color, etc.

Purchase price: $235,900 Cash invested: $70,000 Sale price: $399,000 Complete Renovation: deleting walls to open up kitchen into living room, new kitchen, cabinets, appliances, custom doors, floors, trim, paint, new laundry room, new powder room, new master bathroom, custom woodworking, exterior farmhouse paint, all new interior paint, etc.

You'll want to give the people what they are looking for to get to the top of the rent range (upgraded kitchens and baths, grey walls, espresso wood floors or something similar) but you can do very well on that side of town.