An appraiser could care less as long as they look/function well.

I've always had a more 'old school' perspective on borrowing and not getting over-leveraged...so shifting my perspective to how the economics of today function takes work on my part...and I insure against this newer economic risk by holding that extra cash so it is available.

Value is a function of supply and demand in real estate as well as in all other asset classes. 

So some bathrooms that are functional were not changed out or updated or returned to their old state.Wheeler was bought for $44k, worth maybe $150k now. 

The unit is still functional, but it is dirty, greasy, and infected with Cockroach.

Condition, age, and functionality can also be adjustments. 

If your ultimate plan is to sell it would be good to get a scope on the updates that will add to the sale price, I would not redo kitchens and baths for a rental unless it isn't functional the way it is. 

Working in QuickBooks can take some getting used to but once you start using the full functionality it becomes very useful for looking at income statements and other various statements.

That's functionally a bloated single family cost applied to each unit!

But it's a golden phone call so the paying agent doesn't mind the split.Between non-agents the only thing you can't do is make the fee a function of or contingent upon closing, because for regulators that starts to smell too much "like a commission".