@Ariel HernandezSo many chefs in the kitchen.

I would not add much, a simple bedroom, bathroom, kitchen, and hvac.Another aspect of this deal is that the building is listed as a historic building and thus could qualify for some grants. 

We completely remodeled the kitchen and bathrooms.

Upstairs (separate space with kitchen would rent for $500- as I already have someone lined up for it.Purchase price about 230k.

I've been slowly updating -- new kitchen and bath in one unit, Fresh paint throughout, etc

Put locks on each bedroom door so individual tenants have security of their personal belongings.You need a really good set of rules regarding shared common space, cleaning, kitchen use, bathroom use, etc.Be very clear about the rules up front, and selective about who you put in there.

Purchase price: $179,000 Cash invested: $15,000 Lived in the property for 1 year.Knocked down living room wall, replaced Hvac, floors and gutted and remodeled the kitchen, attic insulation, converted the living room and the dining area into rooms.

No damage except for 1 spot on the kitchen counter.

Also, it appears, (still waiting on the final investigation to close to get the point of entry, but it also appears and confirmed by the PM that they or he/she etc got in through a kitchen window, which was not secure and when I looked, it was then secured by a piece of wood to keep it shut.  

Somebody is getting married so slaughter a goat as part of the feast, in your apartment, your 2nd floor apartment, and then wash the gut's and gore into hallway via a hose tapped to kitchen faucet to "clean up", the CARPETED hallway, carpeted apartment......