You don't want to say as needed.  

While the incremental cost may seem high relative to investment, it's your total cost that matters.I say a resounding yes to replacing the old kitchen.

What is an goo monthly average for say a 3bed/1bath (per unit)?

No one can say. A

No doubt, there is an element there....I am going to say a bit more challenging than Pueblo demographically for the general area but pockets of decent ones are within reach hopefully.

It shocks me that they're in the business selling investment real estate and don't own any themselves.Experience does help.I would also say a great list of vendors also helps....carpet cleaners, roofers, painters, handymen, lenders, title companies, and 100 others.Who is best PM in town?

I will maybe say a few words about the market you chose.BLUF: I think it's a great market to invest in still.

https://www.wlky.com/article/louisville-skatepark-opening-pe...They say a coffee shop being added within a half mile adds $10k in equity. 

@Janna Afanasjeva I would also say a buff and recoat is only an option if you don't have deep gouges. 

I always suggest for those that do their own bookkeeping or hire a bookkeeper to have their CPA / tax accountant review it after 1-2 months of recording transactions.It is better to fix issues(if any) in the start.I would say a good basic chart of accounts will have some accounts such asAssets - Cash, Real Estate, Accumulated DepreciationLiabilities - Mortgage Payable, security deposit payableIncome - Rental Income, Late FeesExpenses - Insurance, Mortgage Interest, Taxes, Repairs, etcBest of luck