So if I were to put ~$12K worth of renovations to the studio (new kitchen counter tops, cabinets, furniture, paint) and based on my research, I should be able to rent the place to a mid-term renter for $1,000-$1,300 per month (+$300-$600 more than what it is now).So based on my situation, these are the current option I am thinking of:a) Lowest Level of Effort: Bump my tenant's rent by $150 with no renovations or value adds to the unit.

Remodel full kitchen, Cabinets, countertops, appliances, bathroom, LVP, refinish hradwood, paint, new fixtures.

Yellow pine longs, Pella wood windows, custom cabinets, granite, top appliances, furnishings, etc.   

Unit 3: 2 bd 2bath the 2 units currently pay $500 and the other pays $400 I plan to renovate floors cabinets paint etc in every unit. my expected total for renovations (I am doing myself) will be $5500 I also accounted for exterior fixes on the outside The current rent is below average for the area, I want to charge $750 for unit 1, $800 for unit 3 (it’s bigger) and $650 for unit 2. 

Good quality LVP flooring, Upper mid level appliances, energy efficient furnaces and tankless water heaters, semi-custom and now custom cabinets, quartz counters, and each home is professionally designed. 

Cabinet MakeoverAffordable Upgrade: - Give cabinets a fresh look with a coat of paint or new hardware

The houses all tend to be about the same and the rehabs are basically put another coat of paint over the 50 existing and patch the holes in the cabinets. 

Now, this will have to be a full remodel from the floors to ceilings, both bathrooms, adding kitchen fixtures and cabinets.

Things like discounts for purchasing flooring, cabinets, or counter-tops in bulk are common.

While one opinion on a property might be to put custom cabinets and 3 inch thick granite in the kitchen, the comps in the area may have formica and standard builder's grade cabinets.