Soft surfaces absorb and hold smell.

I'd love to do the deal since on the surface it seems that it would be profitable.

For the purpose of this regulation, cooking facilities include any refrigerator in excess of seven cubic feet; any stovetop range that operates on 220 volt electric service; any appliance that operates on natural gas; or any cooktop, whether integrated into a countertop or a separate appliance, which contains more than two cooking surfaces or burners.

Get current quotes on smoke remediation from three different vendors (including not just repainting, replacing the carpet, and every surface wiped down, but HVAC duct cleaning). 

I would assume at that level you have to put in solid stone surfaces and low priced ones would be out of the question.With 50 plus units you should be able to broker a very good discount on a group buy of a large amount of slab stone, with 50 plus units that's going to be a large dollar amount and you'll find stone dealers very willing to put together a very competitive bid for you.

I would look at all the strategies at surface level and see which one would interest you the most.

It is on the surface, but wouldn't that still be around 0.1% of the gross rents?

The private loan seems like a good option on the surface, however the exit might be tricky.

@India Brown, surface level rehabs are best to start.  

I am afraid if you are chasing cash flow and associate cash flow with lower risk, you will wind up purchasing in a lower barrier of entry/lower cost market where cash flow may seem better on the surface but the real estate is riskier unless the market experiences significant appreciation.