My plan is to move into the top unit and have the renter that live there now move to the bottoms since they want to stay long term, and the bottom is updated.

Definitely update us when it's finished!!

.* Create a spreadsheet that is regularly updated with Home Depot Pricing, then when you look at the house, you can plug in quantity of things you need, to estimate repair costs.

It was in AWFUL condition, but the bank gave us money to repair and update it. 

All early 70s to early 80s units. 2 definitely in need of repair and updating and the other units are let's just say need to be updated as well.

I will post an update !

Updated through September.

@Josh Shaughnessy Apart from paint and basic updates, What I personally have found that gives me a great return on investment is updating anything to do with the kitchen, especially the appliances.

When they eventually move out I will have to update that space and bring it up to code.This property is going to require constant investment for the next 5 years. 

You could purchase a property and then a few months later owe another $15,000 or more in back taxes.When I ran the numbers on the property I noticed the taxes were extremely low but I ran it with updated numbers based on the purchase price knowing that eventually there would be a re-evaluation and the taxes would go up.