Inspect appliances for age and condition,and look over the flooring for any damage.For tenant considerations, evaluate the unit layout for functionality and storage, and check for safety features like smoke detectors and secure locks.

Each one has been a step up as far as space, location, and lay-out.

Kitchens, Appliances and relocating plumbing for revised kitchen layouts, adding in-unit laundry etc. are what generally drives these apartment renovation budgets assuming the mechanicals don't require complete upgrade or replacement. 

That approach makes a lot of sense—focusing on key value-adds like bathrooms, curb appeal, and open layouts can really improve returns.

We are budget conscious and don't want to spend much on the interior by going with a general contractors(that will be the last option).

This is the kind of inherent human bias we need to be conscious of. 

And the great thing about many older homes in the area is they often have a layout that makes these conversions relatively straightforward. 

In the mean time just hear to learn as much as I can and really layout game plan for my first property.

A two bedroom 1,300 sq ft cabin is going to go for way less than a 2 bed, 2,400 sq ft cabin.One of the issues out there too is that some are setup as legal 2 bedroom cabins because of the septic but then they have lofts and such that allow you to rent them out as 3 or even four bedroom cabins to improve the rent.You mentioned one nearby you with a similar layout.

The price we thought was very reasonable in this current market based off the other properties we have seen prior to that with similar layouts.