I would say the brick looks different because of the power washing,  color cast light from the time of day, and color corrections from my professional photographer taking the final pics vs. the realtor shooting it with their phone

Are you buying and sourcing the big ticket items like cabinets, millwork, doors, windows, light fixtures etc yourself? 

So Baloons are not to be taken lightly, even baloons that are 10yrs out. 

Assuming you don't need to update the rough plumbing/electrical/HVAC, and depending on the types of contractors you use (but assuming you self-manage), you're probably looking at:- Demo:  $200-500 - Dumpster:  $200-300- Tub/Install:  $600-800- Vanity/Install:  $200-300- Finish Plumbing/Fixtures:  $200-500- Tile/Install:  $500-1500- Toilet/Install:  $200-300- Paint:  $200-300- Flooring:  $200-500In total, that's $2500-5000.Obviously, it will depend on specific materials and the specific contractors, but for mid-range materials and given your location, that's probably a reasonable estimate.Also, you didn't mention new lighting fixtures, new window(s), new door or anything else, so those might be additional costs to consider. 

I have not had a tenant issue (sample size of two properties and I just purchased one so take it for what it's worth).More important than my opinion, my property manager on the ground is very conservative and green lights this neighborhood all day which is a good sign.

The building is pretty dark at night, as many of the lights on the building aren’t working.

Hopefully some of you can shed some light on this topic for me through your own experiences/knowledge.

If the previous smoker was a heavy indoor smoker (probably the case in light of the lingering smell) then the odor can penetrate sheetrock more than most people realize. 

Basic updating: Laminate flooring throughout, Bathroom and Kitchen tile, new light fixtures and switches, cabinet hardware, new vanities.

Something beige, off white, light gray seems pretty acceptable.