Presuming they were renovated, were they Formica counters and vinyl floors or high end tile, granite and hardwood floors?

If there's water, I would make sure you have a sump pump installed.

I can build an addition for about 120k that contains two "units" of 2bd/2.5ba each with lots of premium features (9.5' ceilings, acid-stained colorful concrete floors, radiant heating throughout, central air, LED lights, granite countertops, subway tile backsplash, carrara marble porcelain look-alike bathrooms, etc.)

For those in Tampa, Fl, what are you paying to have 2 ton AC American Standard units installed?

Tile floors.  

when buying a new property I install new locks the 1st time a unit is vacant.

Garbage Disposal - None of my current properties have one, but they aren't expensive to install. Ive

If you're the better credit, why not have him capitalize the vehicle and you repurchase your interests through an installment sale?

There are a lot of developers and flippers in my area that put their personal touch on a project i.e. green front door, tiled accent wall, etc

I'm looking around the place trying to assess what it would need and remembered meeting a guy in the same complex who did a complete reno and said he put about $15k into it, (complete kitchen gut job, tile, carpet, bath cabinets, paint, moldings...the works) So I factor this into the equation.