Putting in about 60-80k and modernizing it within the next two months.

They repainted the buildings to modern colors, re-roofed them, did a lot of work with the utility meters and moved them into these bump-outs attached to the buildings (rather than stuck to the side like an eyesore) and patched up/repainted the parking lot.

Luxury construction (especially modern homes) requires much tighter tolerances for materials, so the structures are usually build more like commercial construction with a lot of steel, which requires much more precision than wood framed structures. 

A" class properties will generally be less expensive to operate than "B" class properties, "B" than "C" and so on..Properties that have been well maintained or preemptively updated with modern plumbing, appliances, etc will be less expensive to operate due to less maintenance issues occurring.Single family will generally have less operating expenses due to tenants typically being responsible for all utilities, landscaping, etc, opposed to multifamily which often times has shared water (or other utilities) and perhaps some landlord paid expenses to maintain landscaping or common areas.  

They renovated it so it looks much more modern to help it stand out from a lot in the area. 

This will devalue the parcels a bit, but trust me when I tell you that a modern sand filter system at 10k gallons/day will cost over $1M.

Has anyone tried American Modern? 

House ages can be all over the place, from historic mansions to newer modern homes.

=======Locate the septic feild(s)(s)(s).Have a scientific drinkability test on the tap water for any contaminates.Beware of big (and small) spiders in the basement.9 x 9 tiles are probably asbestos, same for the glue used to hold them down.Wiring and electrical panels may be at end of service life.Florescent lighting may be circa 1960 (I dream of Jeannie) lacking modern non-buzzing startups and be way to many for modern use (electrical hogs).Don't drink any of the water (or even get it splashed on you) without having it tested first.The building may have city water and well combination.Find all abandoned septic fields.Find out if the fire suppression equipment is up to spec with the local fire dept--inspections, types.Without a roof and with many broken out windows insurance may be hard to find.Paint--expect lead (the pealing type) of paint.Assume anything with capacitors-(HVAC, Florescent troffers, Kitchen electric motors, food service garbage disposals, etc.. )-the capacitors are bad--do not turn on until checked by a competent technician.Look for a basement.Look for fallout shelter(s)(s)(s) underground separate from the building (Duck and Cover Turtle era).Look for steam heat system and have it inspected for possible use or demolition.Look for abandoned wells, that may have dried up or were too contaminated to continue use.A phase 1 enviro would have been a good CYA move--you can bet any buyer from you will get one...Pay to have a written professional inspection done of the building to get a consolidated look at the things you will be facing.

People need to work to really be fulfilled, but things like the FIRE movement, Tim Ferriss, the drudgery of modern corporatism, etc has kind of made it seem that work is just a drag that should be avoided unless absolutely needed.