They will start with a kitchen remodel permit, which can usually be approved over the counter.

Other big ticket items to consider: Flooring and bathroom/kitchen next.  

@Luis Silva Switching from RC (Replacement Cost) to an ACV (actual cash value) policy on an 1911 building, will greatly increase your risk.If you have a $40,000 kitchen fire, the RC will give you $40,000. 

One unit needs the entire carpet replaced (except kitchen and bathroom which are linoleum ).

every project is different and will take different lengths of time. i will tell you that most rehabs with a kitchen and bath, full paint job and flooring will run past 2 months. its waiting for the contractors if they show, inspections, weather, material deliveries etc.

it needs a water well to be dug out and could use kitchen and bathroom upgrade.

However, since a significant portion of the income went into improvements on the property (hardwood floor, paint, new decks, new kitchen, etc), my fear is that when I turn in my tax return, it will look like I make less money because of the improvements.  

The analysis is based on getting just under a 20% discount off list or $120K.The property currently only has 1 tentant and will need about $4000 per unit to paint, update the kitchen and re-tile the bathrooms.

Upgraded the kitchen, master bath, backyard, new flooring and windows in the 1/1, which were all DIY except for the irrigation in the yard.

Just needs updated floors; interior/exterior paint with update cabinetry estimate repairs to run 15 -20k; Seller has agreed to a 335k sale; Price per square foot 227 sq footComparables:Property #1: 3/2; 1293 square feet; .1 mi frm subject property; Property was rebabbed; nice curb appealSold as a REO back in 7/17 for 336k; rehabbed now in escrow at 400k; DOM 9 days; Price per square foot @ escrow price: $309/sq ftProperty #2: 3/2; 1694 square feet; .1 mi from subject property; Remodelled kitchen with average curb appealRetail sale: list price $394,900; Sold at $395,000 on 8/15/2017; DOM 2 days; Escrow 30 days; Price per square foot 232.90Property #3: 3/2; 1893 square feet; .1 mi from subject property; comparable in condition to subject propertyRetail sale; List Price 379,999;  Sold at $380,000 on 8/23/17; DOM: 25 days Escrow: 30 days; Price per square foot 200.74Thoughts on arrving at ARV?