Figured I'd drop a link to The Ultimate Guide to Grading Cleveland Neighborhoods here for those of you researching that market. 53,000+ views on that thing, seems to be a fan favorite here on bigger pockets.

I don't think there is an official grading system. 

I used exterior grade paint as well.

Currently, I have the opportunity to go to a big 4-year University due to the grades I received in high school.

when people say an area is a B or a C what makes an area a B or a C and who sets those Grades?

I am looking for advice from a developer or contractor who can give me an idea on a cost per sq ft basis to do builder grade renovations on the rental unit(s) and a high end renovation on the owner occupied unit.

Also note that the cost of commercial grade washers / dryers is much higher then residential grade.One more thought, are your tenants asking for this or are you trying to use it as a differentiator.

I don't know if and when this one has been up graded so some of this stuff might have been improved.

I can get a house cleared in the $5-10k range, higher being for a slab on grade brick, lesser being a raised house with wood or vinyl siding.I would look at new construction costs and add a bit for the demo.  

As of lately I feel more and more people are trying to give property and neighborhoods a grade just like you were grading a high school paper and you received a C+ or B-, heck even an A!!!!