Is this something worth pursuing? 

In the US, many people use a 5-6 year rule:  if you can recoup the costs of renovations in 5 years (through increased rents) then it's worth it. 

Depending on the cost of living in your local market and availability to 2-4 unit properties, house-hacking may be a strategy worth exploring.All the best!

You see OM's all the time touting the parent companies etc. but if they are not on the hook for the lease it means nothing.I do not mind local to regional tenants at all IF there is a personal lease guarantee with substantial net worth behind it.

If tenant wants steel appliances in the other unit, you could consider asking if they want to split the cost to make it worth your while.

You could potentially put 4 of the 5 into a portfolio, but the one you are estimating to be worth $39k would be left out.

BTW a "good title search" is worth the paper it is printed on (or perhaps the cost of the search as max liability) without a title policy.The basic sentiment of this thread is for the rest of us who aren't sitting on $5mm cash and can't afford to or don't wish to self-insure.

This point of view would require additional research and due diligence to determine what is best you.

This means I purchased $1,500,000 worth of RE with 5% down on each.

This happens to me daily, so I get it.But it's really not worth complaining about.