I am glad I did this, as it let me live through some of the costs of home ownership, which are similar to rentals: HVAC replacement, water heater replacement, kitchen and bath remodels, etc at my own house before buying a rental that needed these things and not being able to estimate the costs.  

Surprisingly, kitchen and bath remodels were further down on the list.   

It's a total gut job and remodel. 

Right now, it's just cement floors and walls, has a toilet and laundry installed.

A good remodel is one of my favorite things to do.My current W-2 job + family life (single mom with two teens still st home) doesn't allow much time for DIY on my seven units, but it's something I'd like to do in the future.

Remodeling can change the layout, upgrade appliances, improve bathrooms and kitchens, all things that can have a significant impact on the price.

Thinking about new drywall, new floors, kitchen remodel and other cosmetic work.

Like you, I like to stick with the suburbs.No deadbeat tentants to chase after, schlep PMs, scheister salesmen selling you "rehabbed" properties that end up needing $4500 roof jobs within two years later, toilets, nickel and dime repairs each month.

Has survived tenant toilet overflow, normal shower use, and mopping in the baths.

In this case, it was my first flip, first remodel, first everything and I got ripped off by a contractor after underestimating the amount of time it would take to do the work myself.