The only thing that makes these properties turn key is the fact they are move-in ready for a lower income tenant with low expectations.

I'm going to have a floor guy take a look to be sure, but let's assume I can't re-sand and I'll either have to put new flooring over the old original floors or just tell the next prospective tenant, that's how the floors will be, which lowers the appeal of a very rentable apartment.   

Of course, some will be a bit higher or lower, depending on upgrades, appliances, tile, crowns, flooring etc.  

Also, the turnover will be much lower, but maintenance costs might shift too, so it's good to plan for that.Happy to connect if you need more tips!

Since you're still living in the property, you might be able to house hack and keep the lower owner-occupied tax rate—worth confirming with a local tax advisor.

Because the gutters usually a better solution at much lower cost.

Typically lenders will use the total rent being collect or the market rent given on your appraisal, which ever is lower.

Which could be an open space Medical Equipment rental business, down to a Dentist's office with multiple room utility hookups.You're going have to vet this to a lower level of discussion anyways. 

if there is someone who can build at a lower price in Columbus Ohio than us (my partner and I with both 10+ years of construction experience and I bid on a national scale) why not reach out and try.

MTRs often have lower management demands compared to platforms like Airbnb while still generating higher returns than long-term rentals.