Otherwise you may end up with a $10,000 plumbing bill one day due to a clogged toilet 

I just closed on my first large apartment complex, a 94 unit, and we are doing some of the same things- replacing windows, toilets and faucets to increase efficiency and are looking at all sides.

But we do seller financing of a lot of deals because we feel taking payments on notes is a great source of income without owning the toilets.  

Also, I haven't thought about how I would purchase my in-home necessities such as tubs, toilets, countertops, flooring, and so on.

Of course my neighbor moved in just as I finished the project - they own one of the largest plumbing companies in town ...Remodel included : Kitchen: $6,500- IKEA cabinets $3,500- sink and faucet $750- garbage disposal $350- counters were concrete and fabricated by myself $1,000 - wood trim finish $500 (opened up the kitchen pillar and island)- coffee bar $400 - appliances were re-purposed from my fathers rental (free) valued at $3,000Main bath: $3,300- over-sized jet tub $600- vanity $750- lighting $200- toilet $250- shower tile $750- Instant hot water (main house) $750Master bath: $4,200- Glass shower $1,000- Vanity $1,000- Instant hot water heater $500- toilet $200- lighting $500 - tile $1,000Master suite: $4,550- Split unit A/C donated by neighbor, install $500- Kitchenette $1,000- Fridge $100 (craigslist)- Engineered beam $1,000- lighting $1,200- Custom door $750Demo/Hauling: $2,500Flooring: $9,000- Wood plank tile in whole house (2,000 sqft) $2/sqft material $2.50/sqft labor Plumbing: $10,000- main bath $2,000- master bath $3,000- kitchen $2,500- water system $1,000- kitchenette $500- miscellaneous $1,000Electrical: $9,000- main panel and sub panel $2,500- House rewiring $2,500- Can lighting $2,000- Well pump wire $500- Miscellaneous $1,000Drywall: $3,500Professional paint interior: $2,000Water system: $5,100- softener $2,000- carbon tower $2,000- Reverse osmosis $600- Pressure tank for well $500Back deck $2,000Insulation $4,000- Sheds $2,000- Main bedroom $2,000I'd like to note that I would not have renovated as thoroughly or with same high end materials if this was a pure fix and flip.

Purely guesswork but based on the sq footage of each house your looking at $10k in prime & paint, estimate another $1k for light drywall repairs and assume you have 3000 sf in carpet roughly another $9k in carpet & pad. basically $20k for paint & carpet alone then factor in new faucets, p-traps and toilet seats another $3k, minor carpentry another $3-$5k, lighting maybe $2k.

Turnkey rental investors don't have to deal with toilets or tenants and while there is no turnkey company that can guarantee 100% occupancy and no maintenance issues, I've been getting steady high rates and will continue to go back for more.

But how do you clean out a toilet that has been full of waste for months ?  

At this point, don't focus on the unnoticeable things that need to be done such as door knobs or toilet paper holders. 

I think you'll spend a ton of time chasing a deal that never pans out.