In expensive areas finishes are at a premium that is disproportionate to their cost, for example a granite or quartz countertop and new kitchen cabinets cost maybe $10k to put in but in an $800k house they may command a $30k-$40k premium over a home with a 1970s kitchen, I'd go for dated but functional and do the upgrades yourself, much more value that way.2.

Purchase:Bought: 167k, CAD value 212k, Repairs: 20k ARV: 220-240kRenovation: Updated floors from carpet to LVP, prime and paint, painted cabinets white, updated fixtures and appliancesRents from: $615 per unit to $995.

Could you give me examples of Agents or Brokers who have a custom/personalized website?

And you have customers literally walking through your door.Cons: - You WILL work every weekend.

Hotels have deep pockets and lines of credit to pull upon they can slash their prices to get customers. 

TI...aka Tenant Improvements...your future tenant may want to negotiate different terms for the move in, like a few months discounted rent(this could be on top of the above mentioned vacancy) while they build out the place, or some concession for the Tenant Improvements, if you  have an empty shell it could require extensive work to make it business ready for different types of business, think needing to add bathrooms for a gym(dozens of showers and toilets, lockers, etc) or adding a fully equipped commercial kitchen(walk in freezers, special fire suppression, a few extra sinks or drains) With apartments, I rarely have to do extensive build outs or concessions for tenants, even if I have full on renovation, it is almost always replace the old with same but new, ie tear out old kitchen put new kitchen in same place, same plumbing, just new cabinets, and flooring(if you are at all handy, you can do most of it yourself, or be able to estimate accuracy of bids easily).

We always self-managed because we didn’t want to sacrifice quality (no one else is ever going to care about your property & customers like you do), and we were long-distance owners.

Customized closets.

All that was left was to close the walls (which are open to be able to see the electrical and plumbing) and finish the kitchen cabinets.

That's fine JD, but do you set up your rentals for you or for your customers?