Here’s a breakdown of what I did and the costs: Labor. 29,176.53   - New Railing and Spindles– Exterior of House- Remove damaged flooring- Refinish and Stain Hardwood Flooring- Install Vinyl Plank Flooring on Floor 2- Install ceramic tile flooring in baths and Unit #1 kitchen- Paint Interior (Walls / Ceiling / Trim)- Install New Kitchen Cabinets Unit #1- Paint Kitchen Cabinets Unit #2- Subway tile kitchen backsplash and Unit #1 shower- New Plumbing throughout house toilets / sinks / garbage disposals / tubs / faucets- Install new light fixtures and recess lighting in kitchens- New doorknobs and hinges throughout- Replace electrical outlets and switches Materials - 2 Apts (Home Depot)...............$8,201.93Stainless Steel Appliances – 2 Apts (Lowes)....$3,300.00Quartz Counters – 2 Apts ............. $1,800.00Electrical repair / rewiring ............ $2,696.20Replace hot water heater................ $1,025.00Install Central Air Conditioning and upgrade heat........ $9,000.00TOTAL............... $55,199.69Gross Rents: $2,125.

I do not mind doing light value add, I just do not want to do a full-blown rehab on my first one. 

Let me know if anyone comments any valuable info.CheersNick SmithYes for sure, just waiting for some experienced investors from Canada to shed some light on this.. 

For example, I have clients that won't take below a 12% ROI with a light rehab while I also have clients that won't do value-add so they are fine with a 8% cash on cash return. 

There is some light remodeling I'm going to be doing to the house, should probably take me about 2 weeks max.

(I would not DIY)4)  Other than extra natural lighting, any other major benefits to a skylight?

I agree with others who gave strong warnings against renting to family members.

So I'd cover costs, perhaps lightly cashflow this home that's in great shape a few hundred bucks max (currently 20 yr mortgage), and then cover ~40-50% of my mortgage with 5% down on the new home (builder would finish the basement).

Also, $90k of work will take some time and $6k holding seems light.

Hopefully this post will shed some light in benefits others have taken advantage of!