We usually look for all brick with good bones, structure, layout and Mechanical’s  that only needs Cosmetical repairs and updating of things like Vanities, carpet, paint and fixtures etc. 

Assuming no issues the first year, reserves would be met in 11 months.I have done this for all of my properties and have replaced everything from roofs to hvac systems to bathroom remodels. has done very well for me as i have purchased 12 doors ( 2 fourplexes, 1 duplex, 2 single family) in less than five years.4.

We plan on modernizing the bathrooms and make it into a nice living space. 

 Are 1 bathroom houses common in that area.

We added value by renovating the property and adding additional features such as a 2nd bathroom and rear deck What was the outcome?

It is currently split between the neighbor and myself and only supposed to permit 2 bathroom per lot.

And in this area the trend I'm seeing for rental properties is:-LVP flooring-if countertops do need replaced, do cheap laminate that looks like granite or quartz-if there are tile backsplashes or on walls in bathrooms or kitchens, reglaze with porcelain enamel -if wood floors, refinish them to look new-get rid of old looking light fixtures and replace with brushed nickel-repaint the whole house including cabinets-get rid old old looking vanity tops.

Just bought duplex and one of the bathrooms need remodeling.

I expect your main issue with a second bathroom will not be cost, but space.  

It is a single family home with a walkout basement that has been finished to be used as a separate dwelling unit (has full kitchen, bathroom, & bedroom).To start, I will be living in the basement and renting out the main level.