When you buy deep and try to reno, have a RE attorney besides you to walk through how to form teams and construct contracts to people work for you and you don't get tied up.

An experienced investor could walk a property and work up that list.

It's a 5 minutes walking to a major teaching hospital in Denver, absolutely perfect for mid term rentals and long term rentals. 

Taking the primary residence from a 3 to a 4 bedroom, adding HVAC, new open floor plan, modern kitchen and bathrooms as as well as adding massive walk in closets in two of the four bedrooms.

Good to have a qualified contractor walk it with you and assume 50% above whatever he tells you. 

I would walk through the property with a contractor 

You might just as well sell it for the $120k and walk.

Walking around and checking out the units and the outside helps me understand what it could be like if I decide to invest.Also, when I go to see the property, it shows the seller that I'm really serious about buying it.

I'm not just talking matching bed spreads with a wall mural, but more like a castle bed that you can walk into with a slide, for example.

I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants.