Updates include recessed lighting, quartz counters, new vanities, new fixtures, and a fresh coat of paint throughout.

I am curious if a scope of work that contains "refinish hardwood floor"  is ambiguous and thus open for a variety of interpretations.My understanding going in was that the phrase "refinish hardwood floor" involves sanding the hardwood floor flat, probably using a drum sander, often, but not always staining the floor, and then finishing it with multiple coats of polyurethane.

There are some things a coat of paint can’t hide.

One just needs a coat of paint.

Costs 20-30% more but you only need to paint one coat.

Will primer be needed, or just two coats of paint.

I hope you get a thicker skin quickly

I've seen one to many places coated throughout with yellowish-brown goo which would take far more than a normal security deposit to make rent-ready.

Do enough of the rehab to make the house livable (mechanicals and maybe lipsticking it by cleaning the carpets and a fresh coat of paint) and then list it on the MLS at a discount of comps.

Of course, this return varies commensurate with the level of risk the specific deal presents.If using your own funds, you don't have to generate the thicker returns required when partnering with investors.