Since I was a newbie, I purchased it brand new with no negotiations, outside of having the builder include higher-end finishes for free.

I'm curious to see if anyone else has done this and can share their experience or can shed some light on the topic.

If your market really shows that itll sell for 220 without being completely reno'd, a light rehab might not be a bad project with decent returns.

It's my understanding that I need to have 1st secured POF from an interested investor and the green light on a property and get it under contract before I can even get the seller to accept/decline an offer.

If I fixed every single thing I'd like to to make it look awesome its a 39k reno, If I do a light reno just redoing kitchen, bath and some other things I could spend 20k.

If you don't want to spend the additional cost to install brand new systems you can simply average out usage over the past 1-2 years and add a monthly utility charge to your lease renewal or amendment. 

I'm brand new to the real estate investing world. 

Anyone investing in the East End & Brauers that can shed some light on the neighborhood?

They seem a little light.

Even better, find a realtor who can find you a deal needing light cosmetic fixes, get it at a discount, have your realtor link you with a reliable contractor, and then get with the PM.