Painting, plastering, refitting out fixtures and fittings, windows and doors.

There are various other items that may come up such as: Proper firewall suppression, adequate entrances/exits for fire safety, stair safety, size of kitchen appliances, etc... for my specific example. 

They focused on renovations that appeal universally.. think updated kitchens and bathrooms - and kept meticulous records of their expenses.

We focus on CapEX before beauty. as a realtor we understand selling or renting homes you have to make the home function, Roofing, windows, electrical and plumbing. after we address these we focused on beautify making sure the upgrades match the area and is forward thinking with color scheme, flooring, and flow.

I'd sell if I were you. 1) I don't like HOAs and certainly not for STR or MTR 2) the numbers don't make sense for you to invest in a big kitchen/bath renovation 3) it doesn't look like it's appreciating very well.

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

Planning to start a complete home remodel (interior/exterior) on a home (currently 837 sq ft), kitchen and bathroom bump out, and add an additional bathroom. 

You and this private person you met hammer out the details of the loan at the kitchen table so to speak and you seal it with a handshake and your reputation that this Private Person already respects or whomever introduced has vouched for you.But if a man opens a lending company tomorrow with 50 Million of his own capital and he checks in on the HML market to see what it bears and he copies his products and UW guidelines and now is he PML or HML? 

One place I have stayed a couple of times at you can look out the window see the Ocean and the beach and the cops moving the homeless away from the grass and benches there.

Start with a rental that has modest rehab requirements such as updating kitchens and bathrooms and make sure you qualify for permanent financing through a lending source that offers interest rates similar to that of  a bank.