Probably no wrong answer here, and there is a LOT of room here for everybody's favorite response, which is "it depends"....  

He rents two of his rooms in Nashville, TN while pursuing his PhD and I live and work in Charlotte, NC as an actuary and rent out three of my rooms. 

In my experience the buyer sitting in the same room rationalizing why they gave an offer at 60% of asking is a whole lot worse than me as their agent presenting that same offer. 

There is room for each of us to explore our ideas.Create your investing strategy.

Is replacing 4 rooms of flooring instead of 1 worth it?

I'm currently renting out rooms in my home. 

I want to approach him with 2-3 different offers so he sees I am trying to work with him. 7 Unit Building 2 Bed Room (owners unit) worth $4,000.00 a month2 Bed Room ($3,950.00 current rent) worth $4,200.00 a monthStudio ($1,850.00 current rent) worth $2,400 a monthStudio ($2,000.00 current rent) worth $2,300 a monthStudio($1,600.00 current rent) worth $1,800 a month 1 Bed Room ($3,000 current rent) worth $3,300 a month1 Bed Penthouse ($4,300 current rent) worth $4,700 a monthPotential for garage rental, Storage, and Laundry as wellCurrent Income $16,700    Potential Income $22,700  I know that the gentlemen likes to spend the weekends in his apartment and I want to give him an option for him to stay for a few years to make the deal interesting. 

Opinions on how I get the ARV and whether I should do a serious high-end rehab (getting rid of an office moving the bathroom to where the office was so I can expand the very cramped kitchen/ dining room so they can be two separate spaces and then finishing the two rooms upstairs which are currently wood paneling.)

@Calvin Lipscomb what you should expect to see is a nice, clean PDF breakdown of material and labor costs for the job, broken down into phases and rooms.

I also have a good portion of the corner of my room that floods from under the floorboards when the rain is bad.