Then, over time, probably a few months, start to determine who you would feel comfortable doing a deal with.

It might be that this couple that owns the house is just getting their feet wet with having someone else managing the property and they want to get comfortable with your management style as being what they want.

I suspect maximizing the investment might make it slightly less desirable as an owner or at least the renovations might have lower ROI if sold to a homeowner.

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

So, I would always be wanting to use an appropriate amount of leverage to maximize my investments over the long haul. 2.

The answer to this will come down to comfort level, funds available, and strategy you are looking to implement. 

I think the before vs after pictures really speak primarily to your experience and ability to execute a project so it can help lenders gain comfort with future projects and allow you demonstrate what level of detail you except out of your contractors.

I would be comfortable using that number in costing the build.

And there are landlords who only care about maximizing profit and nothing else.

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.