This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

We were particularly interested in this deal because it involved a light rehab, which is less complex and time-consuming compared to more extensive renovations.

The benefit of discussion is to get an unbiased light on it.

Update all lighting to LED. 

Yes typically, but generally should be possible to do one with no prepay or very light (say 1% if you prepay in the first year). 

Renovating a 100 year old property often requires more than cosmetic updates such as paint, flooring, lighting, etc.

Now I am looking to find hard money to keep moving on light rehabs to buy and hold BRRRR-style.

I was doing reviews for a specific company as use for gaming demos due to it's compact size and LED/Laser light source.

But I take out the dish washers, the washer and dryer, all ceiling fans (switch to dome lights) and garbage disposals.

I have 3 covered 'Mare Motels' with water, lights, fans and misters, plus a Riding Arena.