I haven't gotten as far as requesting quotes, but the $250k min quote you received seems to align well with what I've been reading online, and I'm also finding it outrageous to justify, especially since resale values don't seem to climb in tandem with the upfront cost.

@Joe Splitrock just to be clear, self defense is a justified defense to murder lol.

They are trying to maximize the amount of income to justify their job. 

You would probably need to construct a letter of explanation and provide a  justifiable reason. 

What method would you consider and the most justifiable to receive max potential rent @Albert Bui @Carlos Valencia

I don’t think the rent increase is great enough to justify serving tenants with non renewals and spending the money fixing up the units.

But it is harder to justify a BRRRR than a flip when you're using raised capital for acquisition or Reno (let alone acquisition and Reno).

Yes you have more expenses with repairs for college housing but I find the revenue/room easily justifies the expenses at least in my market place.

Unless you are talking about making improvements to reduce your living expenses, which in most cases, hard to justify. 

Sometimes that’s justified.