The other big issue is splitting utilities, I need a second furnace installed ... it's not a concrete room with no windows lol It's a fully functional two bedroom apartment with high ceilings, a full kitchen, laundry, 3 piece bathroom etc ..

How about the call that the heater or AC is not functioning.  

I invested in the renovations necessary to create an updated and more efficient, functional interior space.

I invested in the renovations necessary to create an updated and more efficient, functional interior space.

I invested in the renovations necessary to create an updated and more efficient, functional interior space.

I invested in the renovations necessary to create an updated and more efficient, functional interior space.

My lesson that I learned from this experience, is to always make sure that a unit functions properly/normally before making it “look pretty” because even if it is very nice, if it does not work, it can potentially be VERY difficult to rent out, even in a market with a heavy rental demand.

Functionality matters.

As a result, these homes have reduced sale and rental values than they otherwise could.So, be sure you are creating a functional space with whatever designation you are going to give to it, and generally the more restrictive classification is going to be the best and highest use to strive for.

There's just so much fundamentally important info about REI that most data don't convey (Zillow discovered this the hard way, when they tried and failed to invest in real estate based largely on data inputs, rather than boots-on-the-ground knowledge).Real estate is literally a physical item, with physical functions, governed by physical realities, and because of that, it can only be fully understood through physical means (seeing properties with your own eyes, experiencing neighborhoods in person, meeting potential tenants face-to-face...or at least on Zoom).