Hi Nick, and thank you for your response.I am actually investing in the Beaumont, Tx area.It’s a good area, and rentals usually generate $1,000.00 - $1,200.00 monthly.The property is in good shape.From what I see all it needs is paint and new carpeting.

Cosmetic could mean a coat of paint or it could mean everything's there but beat all to hell - cabinets old and tore up, holes in doors, etc. 

What is everyone's thought about the cost/benefit of a garage paint job?

Light to moderate smoke damage to walls/ceilings can many times be sealed over and painted, but of course it all depends on the extent of it and the amount of time and condition of the environment since the fire.  

We also can't prep our side for her properly until our stuff is out (cleaning, paint touch ups etc.)  

Clean up exterior, freshin up exterior paint, put ownings on, do easy maintenance landscaping, add a coin operated laundry for additional $100 per month at $1.50 for washer and dryer each, increase rents in between tenants or at anniversary dates. 

You want to do FHA so you have a bit of money left over for paint and refinishing the kitchens and baths.

@Lou Ruggieri,alternative thinking:-clean basement floor to perfection-waterproof membrane/ couple layers of exterior grade paint (encapsulate any asbestos dust)-exterior grade carpet : because you are up north/cold floors; if flooded, can be taken out, disinfected and hosed out, dried out, replace backalternative thinkhing2:-clean basement floor to perfection-waterproof membrane/ couple layers of exterior grade paint (encapsulate any asbestos dust)-treated 1x1 (as "ribs"/"joists")-lay exterior grade plywood/ost on top of it-floating floor on top of that: preferred here is Allure LVP from home depot, but many available from reputable manufacturers; probably floor needs to be rated for under grade/basementsortile everything and provide rugs + non-slip underpads

Question:   Since we did a considerable amount of sweat labor ourselves and spent quite a bit on appliances, paint, flooring, plumbing, electrical, materials, and contractor labor and materials, do I need to write up an itemized list of the labor and materials and give it to them, or just write a list of the things that has been done?

I was fortunate enough to us the VA loan and bought at the bottom of the market, made some improvements (out of pocket) to include new appliances, landscaping and painting (interior and exterior).