., don't know the vintage of your building, but if there is lead paint and/or asbestos, demo can get more complicated. 

They also cited me for a damage to drywall (Section 8 [Chicago Housing Authority] cites landlords for repaired drywall that hasn't been painted).

All in all the damage was very minimal and most of it just needed fresh paint or cleaning.

They are mostly older homes and need significant renovations if you want to compete with the other Airbnb's in the area.Other metropolitan areas are fine, since you can mostly rent a well-renovated home and just furnish it - but since the homes in JT are always in pretty bad shape, you'd need to paint, maybe replace some floors, maybe install a pool, etc.

totally upgraded the kitchen, and bathrooms, New landscape, lights, paint.

the investor chose me because we use the same floors, paint, materials on our own houses and have it down to where he didn't have to make any decisions.   

Mind you the taping compound had been painted about a dozen times. 

Cabinets being painted is a luxury, new range hood is luxury.

I've sold a house to a FHA buyer, and the inspector called out some flecking paint in the eves that were painted ~3 years ago ... the bank would not lend on FHA due to some flecking paint ... of course I remedied it since I got top dollar from FHA buyers.

An approximation works, and assume full costs (trimming, paint, etc and some work around electrical, ducts, etc).