Same as many tubs and kitchen sinks. 

We will have to do some renovations (kitchen, flooring, paint, etc) and we are talking with a few contractors in the area now.

Two concerns with it:  1. not sure if I can expect to be able to refinance with 80-75% LTV on the after-repair value  2. inefficiencies likely to arise replacing plaster with insulation+drywall and installing super basic kitchen, when ultimate plan is to replace floors and put in a nice kitchen. 

Also, if you have shared spaces such a kitchen, you will need to have rules and decide how you are going to manage the cleaning etc. 

The goal in the next year is new bathrooms, new kitchen cabinets and counter and an updated HVAC What was the outcome?

E g “paint bedroom 2” and “resurface cabinets in kitchen” and do this bullet point style. 

Rehab #1: 2 bed | 2 bath, 1,180 sq ftUpdated kitchen and both bathrooms; new lighting and paint throughout. 10 week rehab, plus another 2-3 weeks to furnish for STR.Labor: $30kMaterials: $25kFurnishings & Finishes: $12kRehab #2 was the detached SFR: 1 bed | 1 bath, 900 sq ftUpdated flooring, paint & lighting throughout; added washer/dryer; rearranged floor plan; replaced broken water main lineLabor: $28k Materials: $13kFurnishings & Finishes: $5.5k What was the outcome?

It needs a new kitchen and the bathrooms will need updates, mostly cosmetic.  

My plan is to find one that has a finished basement with kitchen and bath which would allow privacy for the tenants upstairs. 

Each unit boasts 2 bedrooms, 1 bath, large eat in kitchen, spacious living room, in-unit laundry and attached garage.