Just try it in a small spot first to match color.

This is not a project for the faint of heart or the light of wallet, but the returns appear to justify the effort.  

Could you shed more light on your process or refer me to an in-depth post about how utilize this method.

The mgniblinds were below and the light fixtures were nasty.  

I used Valspar Stone/Concrete Stain to paint my stone.Note:  The color of the new mortar will match after painting it.Nice clean undercut around the stairs and railing...Looks brand new!

The house is white and I was considering adding some colorful shutters and painting the cement blocks white.

 $40,000 water damage, tenant stuck a leg of a ladder through the flashing on the roof putting up x-mas lights and gave 30 days notice, no mention of the hundreds of gallons of water pouring in. 

We got a full remodel, rents were paid the whole time and during the process we actually made some changes like adding over head lighting and outlets.

Electrical would be minimal when the work is done but the rental unit is empty because you're likely talking about a frig plugged in and porch lights on at night (and perhaps a light or two inside on a timer) to give the impression someone lives there for security reasons. 

Demo of old roofs (3-4 in place now), replace rotting wood planks as needed, light siding work, seal up old chimney & skylights, replace gutters/downspouts, and install new roof covering?