Minimal CapEx requirements up front, and a little Loss to Lease in the first few years with some units’ rents being below market.

If you think they are going to fight you on the situation it may be prudent to send evidence up front in order to minimize potential of legal challenge, however this is completely NOT necessary.

Demolition entrance porch and bathroom ( including block supporting structure (steps will remain on (do not demo)) - replace with wood to support structure and if absolutely necessary use block if needed but minimize cost here as well.Construct gable roof structure to replace bathroom and porch to meet minimum size requirements for bathroom - adjust the entrance way to bathroom only to minimum requirementsRoof must be metalAll new electrical and plumbing beneath ( I have an electrician who I have contracted to do teh whole unit)Provide the bare minimum cost kitchen counter and cabinets including sink if needed.

a good property manager would be able to provide an accurate rate to expect in that location and minimizing vacancy 2.

Talk to your tax professional if the purpose is to minimize taxes.  

However, the next day the seller’s agent sent us the sellers response to inspection and on it she stated that the PM and owners had signed the estoppel, but do not agree with all the statements on the estoppel and that their signatures do not indicate agreement.

For example, common tricks of the trade are to leave out property management fees (typically around 10% of rental income) and just explain it away as "We assume you'll self-manage", or to minimize repair costs and/or leave out capex or property taxes on the P&L.

They are doing their best o minimize dirt (though that's nearly impossible when you're demolishing a 100+ year old chimney)More details to follow.  

The other possibility is we test raising 1/4 of the rents and tenant loss is minimal, maybe we just go ahead with the rest. 

I have minimal to no other expenses.