That might work for a light rehab, but if you’re reconfiguring walls, adding new kitchens and baths etc., then $25/ft2 probably ain’t even in the ballpark.

Seeing the light at the end of the tunnel.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

Added a second full bathroom, upgraded light fixtures, paint, kitchen counters,appliances, roof.

This thread = a thousand points of light all coming together!

Huge headache and wish I'd have left the floor intact.I would paint the vent to color match the wall tile, then I'd put in a top of the line pedestal sink that has counter space (see Kohler Tresham pedestal sink K-2845-1-0 for example). 

@Benjamin LovingerI have been successful on this for both directions (listings and purchases) and I find that posing the options simultaneously in an unbiased light is the best way.

Purchase price: $360,275 Cash invested: $285,000 Sale price: $915,000 The new conversion & sophisticated unit boasts luxurious finishes, crown moldings, curved walls, and soaring ceilings, and full of light & space.

Any preference for the color of the stain?

The spacious flex-floor plan offers gleaming hardwood floors, high ceilings, and an abundant amount of light.