We take the 2 SFH and do the flips on them since they will create “fast money” and since we have a child going into college we probably need the cash more.

The cosmetic updates will add incredible value to the building and future tenants foot traffic.

Would I then be responsible for cleaning if they leave some dust and foot marks?

The apartment occupies the 4th and 5th floors. 10 foot ceilings.  8 foot wall to wall windows facing east. 

The normal square foot price in my area is $3.50 - $4.00 as a buildable lot. 

@Jacob Sampson I suppose I could squeeze a few more drops, I do have a second and third child.

The reason for the gap between entry level tract and million-dollar custom builds is that outside of the large scale developers, construction costs range from $150(rock bottom)-450(luxury) per square foot with 250 being about the price you can expect to pay for basic builder-grade finishes.

The property is currently at 982 sq feet however has an 288 sq foot addition not permitted with the city yet.

There is a foot of water in the basement and it's been like that for about 10 years.

Of course we have no clue how much needs to be done from the post but think of something as cheap as carpet (about as cheap a sq foot as you can imagine and I know it has radiant floors) think of $5.00 a sq foot for Lowes cheap carpet, pad and install.... it's $35,000.