If too much damage - demo and replace with LVPHVAC 175$ a pieceinstall new window units if current ones are not functionalLighting and fixtures 1000Replace with new ceiling fan and down lightWindows need to be replaced ( 7500 )Reglaze if not too bad condition, replace if damaged/beyond repairUnit 2 - top floor total $11175.00Doors 500Save if possibleCabinet 500Save if possible/ Sand & Paint/ replace where neededHood range 250Vent to outside of the houseUpper Cabinets 250Remove current cabinets, replace with floating shelves.

We have tankless gas takes a long time to get hot water to any fixture so it is a pain. 

We did the following things1) Incentivize the behaviors you want: I didn't charge late fees if tenants notified me and stuck with an acceptable payment plan. 2) Be fair-- don't charge tenants when old crufty end of useful life fixtures or finishes have to be replaced. 3) Appreciate it and fix things when tenants properly report problems. 4) Renovate as required to get the kitchens and baths actually clean, clean. 5) Make your apartments look better than others (and show that you care about your properties) by adding at least a couple of special touches like modern lighting, invisible cabinet hinges and/or cabinet paint and a subway tile backsplash (Lowes sells 3x6 white tile for .15 / tile) and a restaurant style sprayer faucet.

OFCI (Owner Furnished, Contractor Installed) is finish materials that I want to manage such as tiling, light fixtures & plumbing fixtures. 

You'll learn more over a cup of coffee with a pro than you will from a dozen textbooks.Save.

We added value by furnishing the property, adding a privacy wall and pergola over the hot tub, string lights, updating/upgrading light fixtures and plumbing hardware.

That seller may want to allocate a significant % of the sale to FFE (furniture, fixtures, and equipment). 

I also changed the light fixtures in the apartments and painted everything.

Do you know how to change light fixtures, install toilets/sinks,  drywall, change electrical, etc.. because if you don't, that's $$$$ and he was probably trying to save you from investing in something that is out of your comfort zone,  and may be a financial pit... because after all... his job is to figure out how to make you $$$ the easiest way possible-- passive investments!     

Your books also get here next week, and I'll sit down with a cup of coffee to start going through them.If you weren't moving to Maryland soon, I'd probably take a day or two off work and make you walk me around a couple of your open projects (short drive from Knoxville) and share some additional wisdom with an intent learner.Best of luck with the electrical and HVAC today and a pleasant weekend!