Build those reserves up the old fashioned way!

You may want to check with Foremost and American Modern.

All the nearby comps are renovated in a modern clean style with wood floors and updated kitchens/bathrooms. 

Floors aren't creaky, modern plumbing and electric, steel beams stabilizing the ground floor (as viewed from dirt crawlspace).

I would make sure the units have modern appliances including dishwashers and modern color schemes.

I feel both the greater Reno and Salt Lake area have small plots of land that new modern awesome looking apartments could be built on. 

The wrapping itself doesn't degrade, it offers no clues or warnings about what's happening unless you look very closely.With typical modern double-sash vinyl replacement windows, maintenance on wooden exterior window trim goes from being difficult to routine -- you take out the sashes from the inside and work on the wood.

Also, 10 year old renovations will most likely not achieve market rents, which means that any buyer will need to invest in renovating the units) 3 of the units are in perfect condition and can achieve market rent without issue. 1 unit will need a reno to bring it up to modern standards.Is the basement unit a "legal" basement unit?

Dave Smith I’m nowhere near Kansas City, but I use American Modern for vacant/renos.

There will be no further bidding as it is now gone at asking price pending to the tenants.For those interested in this type of mid-century modern restoration, they rent and sell really well when done right.