I remember having no kitchen, a microwave/fridge/coffee pot and that was it for a couple months with a newborn. 

I already re-did the kitchen for around $7k as well as added new rugs/carpet in the bedrooms and repainted.

Purchase Price: $240,0001bd Basement apartment rent as is: $1,000/mo1bd Basement apartment rent after renos: $1,350/moRenos needed: 1,500 sq/ft flooring, two IKEA kitchens, two bathroom renos, paint, interior doors.

Full kitchen, the washer/dryer and more space/privacy are the main selling points. 

Home needed new siding, windows, HVAC, kitchens, baths, paint, flooring and various other fixes.

Not to pile on you but a window AC can be bought on Craigslist for under 100.

Complete rehab of entire property including new open-concept layout and kitchen design.

We have had some plumbing issues and the kitchen ceiling has been removed, treated for mold etc.

Even the renovations he does do (seldom) are not only of poor quality, but of poor choice and taste  (our buildings are beige with BLACK accents, AND SO ARE THE KITCHENS).  

You essentially create the "needs"(needed for loan approval: ie- roof with 3+ years life, etc) and your "wants"(That Brand new kitchen/bath all renters want).