I'd spend the money on vinyl.

I looked through some of your other posts and notice you spend a lot of time criticizing businesses. 

It's only dead if you are spending too much on your purchase.  

Quote from @Jaycee Greene: A few things I noticed, in addition to having the tenant pay the utilities are:1) Incorporate annual increases in rent higher than 2% (in your area, maybe 4%-5%) with a slightly smaller increase in operating expenses (say 2%-3%)2) With a gut rehab, I'm not sure why you need to spend $128/month on cap ex, at least for the first year or 2.3a) An 80% cash out refi is probably going to be hard to get.

You can spend as little as $100 to form an LLC, or you could use an attorney and spend $1,000 or more.

If you don’t want to spend money I’m pretty sure you could get someone to grade the surrounding dirt and add some gutters for your $5k discount and gain you will have added value and come out ahead.

Early on into budgeting many years ago I tracked all of my spending for a month. 

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

If you don't like Dave Ramsey then we can look at Big Bang Theory where Penny borrowed money from Sheldon and even though he didn't care about what she was spending or when she would be paying him back, every time he said anything she thought he was grilling her about that. 

How much will you have to spend to make those units worth more to the renter?