We also check how things are going and if they are restoring the unit to move-in condition, minus normal wear and tear, within a reasonable amount of time, or if they are dragging their feet.

There are discouragements, for sure, but revisiting this observation will restore a sense of well-being and gratitude for a lifestyle that, in spite of the setbacks, offers so very much!

Whatever is messed up in that unit will end up being your job - and your money - to repair and restore to normal habitable condition. 

I did buy the spindles at Habitat ReStore ($1.60 each - can't beat that!)

Fire restoration = big money. 

They have even helped restore the 1926 home because they have a similar home, built in 1928, back in Indiana.

As I'm sure  you are aware, there are what most would consider Class A rentals in places like Santa Monica which have historic character, high end restorations and will be very desirable....and not have any off street parking.  

We're really good at finding deals and taking disasters of houses and turning them around quick dues to restoration background, so the best deals we find wouldn't qualify for a bank loan anyway I don't think (fire house, etc.).

In a written letter I also explained that as long as we restore them to operational condition, whether we repaired them or replaced them should be irrelevant to her.

I restored a large home in Virginia Highlands a few years ago and the best thing I did was take a lot of pictures and save at least one piece of each rotted trim detail.