This isn't a complete business plan but it's a solid component of it. 

Due to removing the orig, wood windows, casing, door jambs, the plan turned into removing all the plaster walls on the 1st floor and insulating and drywalling.

This can work to your advantage because there's not a lot of competition for properties of this size but make sure you have a solid Property Management Strategy and also a backup plan.Last, be very careful of deferred maintenance, capex and big owner paid utility costs.

Tear them down and use wood or some other column.

Foundation is solid, termite damage isn't too bad.

Everything else is turnkey - chef kitchen, wood floors, 16 foot ceilings, 2 units have skylights, everything separate meters, new water heaters, new appliances, etc.

Also, @Mike Foster is in your neck of the woods and could be a great resource for you!!!

I am happy to provide more solid numbers, location, pictures, etc. that would help evaluate the opportunity. 

My understanding of the market there is that it is strong for the midwest: reasonable population growth, good jobs, solid neighborhoods, good cap rates, etc.Because I'm quite busy, I don't have the time (or willpower, to be honest) to hunt for deals myself, find contractors to renovate, and do all that work myself.

. - The rehab comps are solid at $125K.