I think a shift of mindset is crucial.

Hi @Matt BrowningNo repairs were needed at the time of purchase, but some items were very outdated (house built in 1996 - contemporary southwest style - think brass everything and faded pinks, off white ceramics, and oranges).

My response wont specifically answer your question, but I do think it's crucial for realtors to have relationships with banks and credit unions to help better serve their clients- especially their investor clients. 

The asset and how it will perform is the most crucial part of this.

Tile/LVP/laminate with that orange separation level?

The reason I bring this up is because you left out some crucial details about the "big picture" that would influence my answer.  

So the lending part is crucial. 

Awesome.Regarding the deal, I’ve been reading up and attended both @Brandon Turner and @David Greene books and webinar and I think you haven’t factored in the condition of the property, it’s location - neighborhood, both are crucial in multi family investments as the amount of work needed to  operationalize and achieve positive  pure cash flow between a C/D vs A/B property is significant.

Although recessions are never a good thing, making sure you engage in this adverse event with your head held high, is crucial.

Are these renovations crucial?