I'm pretty sure that I can build my own personal wealth much more efficiently than an insurance company. 

I would dwell on the property (make-**** efficiency from back house/garage) and rent the front two units out, as is. 

Also you get warranties, the house is going to be more energy efficient reducing the utilities for the remnant. 

Maybe your energy costs are substantially different.For each unit to feed electrical, you'll have the cost of copper (usually 30A - 40A wire at minimum) to feed a disconnect, and then the cost of the disconnect, and of course the labor.With economies of scale I'd think you're a little high, however this totally depends on your application. 

If you have the clearance, I would replace the hood fan with a microwave/hood fan combo for space and efficiency, and I would tile your backsplash.I agree with Vijaianand Thirunageswaram above that having a theme and a colour palette in mind from the outset is key - although I think white appliances can look just fine in a country-style setting depending on the rest of your palette.  

I think  that if there is base board heat that it would potentially be too high of energy cost for tenants to pay and retain.

I suggest taking time to sit down and write out what you want to do, how much time, money, and energy you have available to commit, and where you want to be 5, 10, 15, 20 years from now. 

It could be just $2, but you have to apply the same amount of time and energy as if you chase the full rent amount.

To the rest they are wasting time, money and energy.

2b) Is there a way to manage the risk of owning many highly leveraged properties other then having reserves and implementing efficient business processes to minimize vacancies and other expenses?