Project included new windows, new doors, new siding, new floors, new bathrooms (vanities, toilets, shower, lighting), new kitchen (appliances, sink, granite counters, cabinets, lighting), new paint, new pool liner, new landscaping.

Finally - make sure you register HVAC and appliances.

There are critical items such as -Plumbing, HVAC, electrical items, roof repairs, appliance repairs- that you want extremely competent professionals to handle to ensure that you the PM and owner avoid liability and to ensure you aren't shelling money out again for the same issue because you were being cheap the first time.  

Lest the hold over owner. totally trash you place.put concrete down the pipes... take all the appliances... etc etc.all of which has happened to me personally over the years.and you can get into some really hairy deals were one of the spouses never told the other that their house was in foreclosures..

Appliances and replaced fencing.

Fyi, the discussion went like this, she said I want a wrap around porch, grey siding with white trim, bigger windows, french doors, stainless appliances, black barn doors and shutters, etc., after which I put my foot down hard and said “dark grey or light grey siding?”

Everything in the home will get double usage, especially the appliances.....Also make sure your liability insurance knows that they are now responsible for insuring 6 people.This just sounds like a bad idea to me....

The city's median household income of $31,843 a year is well below the U.S. median of $57,652.There are likely many factors that contribute to low incomes in the area, though one of the most significant is employment.

And as an overarching question - how should I apply my minimum standards for a household of multiple tenants?

On the other hand, our house has a brand new roof, brand new hot water heater and recently renovated kitchen with newer appliances.