If you don't and hang that sucker a bit crooked, especially with the cheaper, lighter semi-frameless sliding doors (the Delta models), one of the sliding doors will tend to slide open a bit when you use the shower.

I should have gone with a much lighter color when I refinished the floor, for instance.

Most of us shoot for a minimum of $100 per door cash flow, as below that is not worth the efforts, time, headaches, etc. but with an apartment building, you only have one property to manage and drive to, one loan, etc etc so accepting lighter cash flow, but getting huge upside may be ok.

However, if this area is transitioning and your student base is growing strongly you might consider a lighter rehab now that's something you could expand on in 10 years.

The size of the unit makes me lean towards lighter colors. 

As far as doing the bedrooms goes, it could be cheaper to do the living room (the one in the picture) and the hallway in matching vinyl, and simply put in fresh, lighter carpet in the bedrooms.

@Michael Noto my personal taste is for a lighter countertop and backsplace with white cabinets, say beige or light brown in color.

I'm still figuring out the strategy, but it seems like being able to refi quickly out of hard money would be a great option for a lighter rehab.

So, if you have the means, I'd buy every single property you can find a way to get the financing for.Also, I'd recommend sticking with the lighter rehabs though to keep your turns quick and avoid the more significant risks.

The higher walls shaded by the eaves remain the same color, while the lower walls that gets the sun gets lighter and lighter.