I'm not scared of a little renovation, but I need to be conscious about location. 

I started my full time career with AE at 18 years old and was very budget conscious saving the strong majority of my money for the first few years of my career as I still lived at home and was financially linked to my parents.  

I commend you for being conscious about it and thinking about your contractors.  

This is great since we don't touch the utility costs, and puts the onus on the tenant, but also I've seen in advertising that you can charge the "same" rent as other buildings and people won't always consciously register the extra costs for utilities.

You also value your time and also are conscious about how vacancy/turnover affects you.

The more business you do, the more likely you will be to be sued.To elaborate on Will's comment: you do need to be very conscious of piercing the corporate veil.  

(My conscious is saying "why shouldn't you rent to them if they are good people?")

This can, and in many cases is different from what we consciously think we want.

It is good that you are conscious and thinking about steps to protect yourself, which to me tells me you probably wouldn't do anything so outwardly negligent that you find yourself in a lawsuit. 

The focus of our developments is environmental consciousness, energy efficiency, and minimizing our carbon footprint.