All new insulation, electrical, plumbing, drywall, new water heater, pump, burner, etc. etc. etc. 

Well, I ran out of wall plates for some electrical outlets and I need to hang a blind in the kitchen window, but other than that this condo apartment renovation is in the books.  

Electric tape around exposed wiring.

All units have separate meters -- Tenants pay water, electric, ect. 

Simple - just be generous with yourself, and assume they'll trash everything in sight and steal the appliances, cabinets, plumbing and electric. 

I am leaning away from this option.2) Pay the difference in the electric bills and chalk it up as the cost of doing business.3) Pay the difference in the electric bills up front and seek restitution from the contractor for causing the delay in the process, which resulted in the lengthy term of higher utility billing to the one apartment.4) Provide the tenant with the contractor's contact information and invite them to seek restitution directly.

Does it have 2 electric meters?  

@Enrique Saucedo, I did a substantial amount of remodeling on all of the units.The first 7 units, in Mountain View had essentially the same level of work: New flooring, new oak kitchen cabinets, new granite counter tops, new appliances, new toilets, new tile, grounding of electrical outlets, sheet rock, paint, new fixtures.

New electrical, plumbing, HVAC, insulation, drywall, floors, kitchens, baths, the list could go on forever!  

First, i would not furnish the places, it will probably get trashed, let them get there own furnishings and make sure that the lease says they must remove them from the property when they leave. i would have them pay for utilities, to an extent - have them pay for electric, supply the heat but give them an allowance for certain amount of months ( especially if you have older furnaces and they run on oil heat ) if they go over then you charge them for it. i converted mine to gas with new furnaces, i include heat in mine, but i control the thermostat ( online, thermostat is locked at the house ). i also provide water / sewer and free internet.