And they had taken the kitchen cabinets apart and burned them in the fireplace for heat.....I salvaged some and painted over the burn marks, didn't look half bad....ya can't make it up, right?

Not adding any additional living space, just dividing the two units, putting a kitchen in one of them, and probably not having to add a bathroom to either unit.  

I gutted it and added new drywall, new light fixtures, new bathrooms, new paint, new kitchen, new furniture and new flooring and new windows.

The property is being modernized with brand new floros, kitchens and bathroom, windows are being added.

This significantly lowers the cost per door and improves your return on investment.Scalability: A three-story walk-up design allows you to maximize your build cost and land use, just like most professional apartment developers do.Control with New Construction: Starting with a new build ensures fewer risks, as you’ll have control over the property’s condition and avoid surprises from existing structures.Pro Tip: If you do go with an existing property, make sure to thoroughly vet the deal to avoid hidden costs and issues.For first-time investors, multifamily new construction is often the best way to scale quickly, reduce costs per unit, and build a sustainable rental portfolio.

My order goes like this.1: Front of House (unless there is an extra special feature. think a Plane Jane house with a chef kitchen or over-the-top pool and patio area)2-5: Highlights of the best features of the house.

I assume you are probably losing a few of those bedrooms for living rooms, kitchens,  hallways, stairways etc. if converted from 2 to 3 units.  

Add to the kitchen!

New HVAC, plumbing, electrical, floors, kitchen, baths & added a deck. 

There is a cinder block structure on it now that is basically a 1BR, 1BA shell with plumbing fixtures, but no kitchen.