The store front has a 2 year lease that we intend to honor while we decide if we are going to use the space ourselves or continue leasing it out so at this time we are only updating the apartment.

I work with many fresh grads and even an offer letter can get you a conventional mortgage.

You can choose to terminate their leases and start fresh, or verify their ability to pay the new rate.

Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.

Fresh paint and new entry doors finished the house off and had it ready to rent inside 30 days.

Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.

For us BP people, we can see the potential in a fresh coat of off-white paint where regular people just see a gross ugly house.  

Attend a couple of meetups and speak with a few investors face to face, I think that'll give you a jump start on a fresh perspective and may also help you nail down what direction to focus on. 

If you got the first house for a song and a dance it would probably be better financially just because you're getting a better price on the skeleton than you would in a fresh build.

Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.