A couple more things to consider as you do this, and I've overseen 100+ apartment units renovation that we've owned and managed so I have some experience in this. - If you're already tearing out the cabinets, maybe see how much more it would be to re-pipe the water lines or re-place exposed sewer lines.

I dont know your market but EVERY broker in the world will over promise upside rent and poorly managed (inflated) expenses. do your own DD on both of them and come up with your own pro-forma to evaluate.

(There's nothing passive about managing the rehab!)

My wife has zero interest in real estate and is not involved in the acquisition or management of real estate in any way.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

We're a property management company and a new client wanted to rent her current home and buy a new home.

An INVESTOR manages the managers. 

Property Management: Consider hiring a property manager if you’re investing out of state.

Too many landlords think that lease agreements are not important enough to have an experienced landlord and property management attorney prepare.

I am the buyers agent, and I project managed the rehab.