Looking to and not limited to replace flooring, interior repaint, recess lighting, update bathroom, update kitchen, windows, and landscaping.  

Just click my name and look at posts I've written I believe there are three lazy landlord posts One on painting One on flooring I like what you've written I believe it dkesent have to be that our work is less than professional quality I think that for many of us who are somewhat handy We can specialize on one or two things that we can do really wellFor me I have chosen Tiling , painting, and landscapingNow I haven't rally done anything landscape wise but my intention is to take some classes on landscape design It's one of those areas that pay huge dividends and save tons of moneyTiling mastery allows you to save tons of money and actually greatly improve the value of a home Painting of course is something we all can do and we can learn some tricks to help us get a professional job. 

I have not met the other owner but since the HOA is not properly setup and there has been conflict in the past I also fear an on-going problem with the over all property maintenance (landscaping, snow removal, etc.)thanks, Frank  

Budget questions/comments: No new lighting or plumbing fixtures?

I've done a couple of light rehabs but nothing substantial.

First thing I suggest is to spend some time in the forums, listen to some podcasts and do a little bit of reading so that you can gain a light understanding of the nuts and bolts and strategies used to invest in real estate.

Always include even if self managing) plus 1% for turnovers.5% Credit Losses (Uncollected Rent and Skips)5 - 10% Maintenance/Repair (depends on Age and Condition of property)5% Taxes and Insurance (Varies)5% Utilities paid by owner (Electric, Gas, Water, Sewer, Garbage)5% Landscape Maintenance/Snow Removal 5% Misc (HOA fees, Pest Control, Legal, Accounting, Advertising, etc.)5 - 15% CapEx.  

@Patrick Cruse, as a contractor, terms like light fixer, heavy fixer are meaningless.

Pay vendors, mortgage, taxes, utilities, landscaping, etc.

Be sure to calculate all expenses - mortgage, taxes, insurance, landscaping, municipal rental license fees and garbage collection fees, HOA fees, etc.