Her office is 2 blocks from Grand Central. 

It’s also close to good shopping and dining.

Online searching and negotiated a couple grand off seeing some repairs that had to be done.

This will let the rents grow.So in a few years with higher BAH and no smell and adding rooms I am seeing high probability of making more money.

All studio and 1 bed rooms.

872 sqftWith that in mind there are some things that are still decent:-HVAC is good, just need new heaters installed-Plumbing is no problem-Roof is fairly newNeed to be done:-Electrical needs some new work done-Demolition of the rooms -Basement - Kitchen needs to be fully renovated -Building 2 new bathroom + half bath-With a possibility of a 91 sqft addition in the back!

You cannot evenly split power nor can you come up with any way to adjust it based on square footage or number of rooms or tenants.

All my buildings are the same paint color so I go from room to room with a roller covering any marks. 

Is there room to raise rents without doing any work? 

If you are willing to rent them a room in your house/condo you can help cover your rent.I would stress to only buy a place that would cash flow once you move out.