Real estate investor, if you did a cost segregation, amortization, depreciation, 1 time expenses, 1 time closing cost Fee's and this can differ from residential financing compared to 5+ financing.  1 time expenses on properties can be new roof, appliances, A/C and bigger ticket items. 

Maybe some additional info: my current plan is to redo the deck and kitchen in my current house, rent it out, buy the property, split the lot, build two houses rent one and live in the other, along with if I can put each under an LLC in some way.

.✅ Replaced cast iron plumbing to PEX ✅ Paint & LVP flooring✅ Brand new kitchen with granite countertops, shaker cabinets, backsplash, and stainless appliances✅ Brought the laundry from an exterior mechanical closet to inside the home✅ Full exterior refresh for curb appeal✅ Added a Tesla Wall Connector in the carport for at-home charging ⚡️ (ok, this one is just for me but is pretty cool) What was the outcome?

@Basit Siddiqi - I should have clarified the $50K break down:$32K for structural repair including replacing new beams, new walls, replace all ceiling joists (to get to code), stair case, peanut curb $15K for finish like plumbing, electrical, dry wall, kitchen install, bathroom install, flooring, paintThat is good advice on making a trip out to Jax.

Our tenant is moving out in April and we would like to renovate the unit's kitchen and possibly the bathroom too. 

If you flood and have flood insurance they would cover collapsed foundation (personal experience) and some appliances/mechanicals but contents would be minimal coverage. 

If the kitchen is fully functioning then yes. 

.✅ Replaced cast iron plumbing to PEX ✅ Paint & LVP flooring✅ Brand new kitchen with granite countertops, shaker cabinets, backsplash, and stainless appliances✅ Moved the laundry from an exterior mechanical closet to inside the home✅ Full exterior refresh for curb appeal✅ Added a Tesla Wall Connector in the carport for at-home charging ⚡️ (ok, this was just for me but is pretty cool)What was the outcome?

I completely updated everything in the house besides the kitchen and 1 of the bathrooms which i eventually plan to do next year. 

$5,000 - remove wall$1,000 - paint kitchen cabinets$3,000 - paint $1,000 - remove paneling, repair drywall$1,000 - new light fixtures and bathroom fixtures$2,000 - new countertops$2,000 - new appliances$6,000 - new flooring (laminate, carpet, tile)$1,000 - new garage door$1,000- paint siding$3,000 - contingencyTOTAL Rehab - $31,000Those are just things that are obvious from the pictures.