I've gotten different suggestions: either conduct a basic remodel of the kitchen and bathroom, or undertake an extensive gut and remodel and convert the kitchen + living room to one large open space (that came from one of the GC's who does flips in the area). 

So I have a couple of additional "corrective" posts there ...So just say "NO", and repeat saying that whenever a tenant wants to undertake any alterations.

This is a big job - not necessarily a complicated job, but probably bigger of an undertaking than you think.You don't want to paint darker because darker paint will get hotter, and will then either warp the vinyl (which I've seen all over the place, especially in AL) or cause the paint to flake off - and that's where an inspector or an appraiser will get you. 

Lastly, anytime I want to verify all the properties I have insurance on, it seems to be a large undertaking too.Has anyone else shared in this frustration?  

Being a landlord is one of those undertakings where an ounce of prevention is worth a pound (ok, a ton) of cure. 

We ended up looking at the apartments and it's a huge undertaking for us at this point.

Lastly and more important, did you undertake a project like that before?

., most homeowners won't undertake these types of renovations and therefore can't "unlock" all the additional value themselves.So, to summarize, the two ways that flippers make money in this business are to make money when you buy (i.e., purchase so far below market value that you have equity after the renovations) and/or make money when you sell (i.e., increase the value so much with the renovations as to put the property in a new class when you sell)."

I'm aware that there are certain procedures that I can undertake, and would like to find out more.

Do I have the personal tools to manage this undertaking?