I let them know that I also believe that it is worth looking to a market that has favorable rental laws. 

Just get started, don’t let this stop you.  

This will let you get in the way of appreciation.Next find a situation where you can talk and learn from someone who has done it before. 

I personally try to automate as much as possible and rely on great/trusted handymen, cleaners, etc. on the ground that can take care of anything that comes up and let me know about the state of the property.

Let’s stay in touch and see if there are any deals we can collaborate on!

They will let you know what you can and can't do without a permit and what you are able to do yourself within the scopes of those permits.My concern is because this is a rental, if you do anything that is not to code and the tenant reports it, you will likely have some much bigger issues to deal with.Given you note this is major rehab, I tend to lean to hire most, if not all, out. 

Let them know that the HOA is planning on banning smoking on the entire premises.

Lets connect! 

I'm going to have a floor guy take a look to be sure, but let's assume I can't re-sand and I'll either have to put new flooring over the old original floors or just tell the next prospective tenant, that's how the floors will be, which lowers the appeal of a very rentable apartment.   

well if this was remotely true I would pay the 35k and sit back let them do all the work and make my 200k a year.