Well I guess you can dive into RE, finish up your active duty in IL, and then when you are swimming in money you can move back to Hawaii.I agree with your renovation thoughts. 

Pretty much everything done in a reno will be a capital expense, except maybe refinishing floors, not even paint unless it's just a room or two....

The gel coat has to be regularly refinished and fat people can actually break it. 

Even longer if a maintenance plan is in-place to inspect them yearly and remove rust and refinish. 

Took 4 months to complete extensive rehab (bath & kitchen updates, added office, refinished hardwood floors, paint, landscaping, etc.).

For instance, when I buy a property, I attempt to keep the cabinets and refinish / paint them rather than replace them.

I work as a CAD Draftsperson (3D modeling of our fixtures to create blueprints, programs and cut lists) as well as a Carpenter when some extra help is needed on the floor.I bought a little ranch 2BD/1BR house in Milwaukee (Bay View), Wisconsin six years ago and have done a lot of work to it over the years - new custom kitchen, appliances, refinishing of original oak flooring, A/C, bathroom and 6' fenced in yard.

For example hardwood floors need refinished, the place needs paint, and the yard is pretty rough. 

Would placing LVP be considered as an improvement or I can claim it as a repair when replacing very gross, stained, smelly carpet with holes in it and a rough subfloor (not possible to refinish)?

The house is currently lived in, but would need extensive rehab - new kitchen and bathrooms, new exterior siding, refinish floors, landscaping.