People want to be able to walk to the ice cream shop , the corner pizza shop and post office .

@Steve Vaughan  also very much depends on where in the US it is.. and what your tenant base is..some tenant bases around the country are peach's and cream and not tough on property and pay on time.and rarely does  a unit go vacant one moves out 3 to 5 days to clean and turn it another moves in.in other parts of the country tenants move a ton.. are tougher on the homes.. bigger credit risks IE don't pay and it can take more money to turn them over  and longer time finding new tenant.. so it depends.. but 50% is a good rule of thumb if your having to hire it all out that's for sure. 

My thought was to have one splash of color in the kitchen (the counters), and do neutral colors (white, gray, ivory, cream) in the rest of the kitchen.

I will use existing rental income and income from my other business (ice cream shops) to fund the repairs needed.

When looking for someone to rent a room you won't get the cream of the crop in most cases.

I have sceen and known about people who can cross the busiest high speed highways without getting creamed by a fast moving vehicle but just because there are others that do it does not mean I am going to try it. 

Too bad, they used to be the cream of the crop, but have since sold their souls. 

You will not be getting the cream of the crop below 75-100 units as there are hardly any economies of scale.

@Joseph Lee from everything I have seen Central AC does not increase rent, but from my experience, I do see it as important to pull the cream of the crop tenants, and I think it will add to your value vs your competition when we see a market shift. 

Single-family purchases do not offer the luxury of cream-of-the-crop property management and are very expensive (~8-10% vs. 3-4% for large multifamily).