Features 4 bedrooms, 3.5 bathrooms with 2 master suites.

This property had some great bones, it was just all of the cosmetic features that needed help.

v=e0TSoDnFNGs&feature=youtu.be(NOTE to Virtual Assistants:  this video is informative in nature and applicable to many people in the BP community; it does NOT contain any promotional material and does not violate the Terms of Service as I understand them. 

But are the difference in features really worth it?

@Steve K.Checkbook control can be a great feature.

Later I rent the unit with security system as a feature.

You can also try the blog feature and see how it works for your case

Do I need to hire a designer to get a "rough draft" for the banks to see or do they just need numbers along with a detailed description on what it is and the cost of it? 

It will save you 6 months if headache and potentially some money .Option 1: Demo the house--> pay architect to design a new house --> Pay civil for foundation -> Pay city for new permit --> Wait 6 months --> get builder to build it Option 2: Pull rehab permit --> Demo the house to studs of foundation (keep something) --> have architect to design addition (exactly like new build) --> Pay city for permit <cheaper>--> wait 1 month while continue to work --> Use existing utilities --> use any contractor ... 

So for rental properties, you only really care about how those extra features effect the market rent.