Dilemma:  if I refinish basement rent will still be only 950, unless I create another apartmentFinishing basement will create value, butRents will only be 950 per monthWhat would you do?

I've recently replaced floors and refinished (her) bathtub. 

My estimates include modest landscaping refreshes and often $10,000 in plumbing/electric, properly refinishing older tubs and sinks, not replacing with fiberglass, proper renovation of wood siding, not covering in vinyl, etc. 

@Arthur Edmund,   Refinishing wood like the kind you have can be very difficult.  

I own other properties that I rent out and I think they just kind of assumed I'd keep it and rent it out.Original Plan:Purchase price $86kARV  $179kRepair estimates: $25kLoan/carrying costs $8,000n (hard money loan points and interest, utilities)Realtor Commissions: $10,750Potential Profit: $49,250I live on the other side of the state, so I planned on driving down here and staying in this house while I fixed it up, doing all of the cosmetic work (paint, refinishing floors, refacing cabinets, etc) and bathroom remodel myself and hiring out the heavy work (replacing siding on garage, new rollup door, electrical work, new heat).

this should soften it. use a plastic spackle knife not a metal one (scratches....) to scrape it.now the next one is to find out what can dissolve the glue/adhesive....try water, mineral spirits, goo-gone, vegetable oil... unless you want to sand/refinish the floors. than you can go gorilla on it with a big scrapper

And my current rehab project is on hold for a few days because the hardwood floors are being refinished.

There are even formulas and charts...But after a decade I see Cap Ex is a fickle and sometimes arbitrary mistress, and sometimes you have to have the money or else (like to prevent roof failure) but other times, like with my 80's cabinets that I refinished (and they still get compliments), things can go safely and usefully past their useful life (80's brown shag carpet anyone?

I think adding new cabinet doors/hardware and refinishing them might really bring them back to life for cheap.  

2 of the units are in great shape, needing only light rehab work (painting, hardwood refinishing, door replacements etc.) while the basement unit is in need of more work (flooring, drywall, some water damage/mold).