Are you willing to gamble your life and those of your family on, "being accountable for your rentals", "being a good landlord", or "maintaining your properties correctly and being decent to your tenants"?

Losing a listing opportunity because an agent you don't even know bad mouthed you and told the client things that arent even true or accurate - yes this did happen.

While this might seem fair on the surface, it may not accurately reflect each tenant's actual water usage.Usage-Based Billing: Implementing a system where tenants are billed based on their actual water consumption could be fairer.

@Mirlyne AndreRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Divide by 1000 and review what the town/city are charging for commercial properties for an accurate calculation.

That same report found data to be 96.2% accurate. 

Its CMA system is fairly accurate, but the free lead lists and the easy use of marketing and sending letters and postcards is also nice.

Get firm quotes from contractors for the renovation work to ensure your budget is accurate.

No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.  

Unless you are incredibly confident in your reno assumptions, I'd recommend getting a contractor out there ASAP to give you an accurate reno estimate if you want to go that path.