More than 4 units the value should be primary function of cap rate and NOI.  

This is more a function of your market place though.

Every school function I go to for my kids, I see a few tenants that I had to evict or who didn't do the right thing when they moved out.I think this issue holds true for all business owners. 

If anyone feels the lack of a functioning elevator for those 6 weeks will inhibit their ability to live in this building, please contact building management ASAP to discuss.

You are generally looking for solid, functional, inexpensive materials.

However, with the normal wear and tear/ usage of the two main entry doors to the units foyer area, we have had more than 5 service calls on the locks (for batteries, lock mechanism not functioning, etc.) and both front door Locks have had to be replaced once already and I am thinking it is time to use a different Door Lock method. 

Kitchen renovations were not in our original plan, but these adjustments made our kitchen far more functional, and we feel the extra time involved was well worth it.

because you may spend a bunch of money on a rehab that's not functionally useful to potential tenants if their business requires certain buildout/finishes.

On the other hand it has simplified my communication style on finances and basic home functioning and made me more tolerant of those who did not grow in the know on those topics.

I buy distressed properties (non functional) in cash within an LLC.