There is no major repair that needs to be done - just a little touch up here and there that I don’t want to do myself. 

And I don’t just mean an easy cleanup and touch up.

I used to show occupied units and units that had not been freshened up with painted touchup, cleaning, etc.  

Let's say you can do touchups until 5 years and it costs you $500 per touch up.

@MONICA WATSON , congratulation. the house is in a decent shape. from the pictures, i don't see much other than paint touch up and carpet clean.

There can be $1,900 difference between the price I get & the quote by the vendor of the property manager on a touch up paint on walls of 1800 sq ft home .

OK - but what you described is not a rehab; it's a touch-up.  

It is probably enough only for a paint touch up, appliance upgrade.

I pay my current GC four draws:40% deposit at contract signing (which I typically don't sign until the day I close on the house)20% after the county concealment inspection is passed20% after the county final inspection is passed20% after I approve of the work during my final homeowner walk through (after paint touch up and misc items are completed -- or basically on the day that we both expect none of his guys or subs will be coming back to the house again)

.* $485K - purchase price* +$70K - excavation cost for 8-9 feet in height inside the 700sqft space along its reserves to add an English basement* +$70K - turn basement into finished basement as a separate legal unit and some touch ups for the main and upper levels (I have a friend who can help out with rehab so keep that in mind when you think cost estimates may be low)Total: $625K investmentI estimate the ARV for that property with “2 units” will be approximately $675k (this number is rather conservative).