The PM handled the light remodel and upgrades (mostly cosmetic to get rent ready).

.- Additional subfloor (wood) and cement board (floor) $100- Shower cement board $75- Waterproofing Membrane (I like to do this) $150- Shower wall tile (80-90 SF) $150- Flooring tile (30-40 SF) $100- Tile setting and grout $75- Vanity with top and mirror (24" it looks) $250- Toilet, wax ring and feed line $100- Faucet, feed lines and trap $75- Trim $25- Accessories $40- Fan/light $150- Vanity Light $50- *Shower diverter valve with trim kit and plumber to install and help set tub/drain. $750- Screws, adhesives and fasteners (cement board screws, caulk, etc) $50- Paint $40- Miscellaneous $100TOTAL: $2530With all of that said these numbers would be my BASE run, and assuming I was spending my budget amount on each item.

Paint, carpet/flooring and lights.  

Thank you @Todd Dexheimer and @Michael Le@Jeff Greenberg it's a very light value add. most of the heavy lifting had already been done. for this deal it's more about getting a solid, low risk income stream for the investor. in short we'll make cosmetic upgrades to units when they turn in order to keep growing rents 2% to 3% average per year.  

It needed light rehab and within 3 mths I was able to refinance it into a traditional mortgage.  

@Chris Lawson the bath fan is the fan you want to have tied to the light switch or on a timer.

Unless you are able to open up the closet space where the water heater currently is (assuming it is indoors) and use it for more living or storage space creating value of usable interior space, then I don't see why you would want to spend more money on tankless as opposed to the less expensive tank heater.

You definitely miscounting some numbers - property taxes are high in FL because there is no state income tax.Management companies charge a lot and don't do much for the money, every light bulb replacement costs you dearly.Unless you plan to move there and do your own PM, that's to going to be a good project

There were a few aesthetic lighting changes on the 1st floor (get rid of the sconces). later he drew up plans to deal with a problem of the stairs leading to the basement.Oh, yeah.... the stairs.

Hoping someone could shed some light on the potentiality of this idea.