Make everything in concrete or wrap it in bubble wrap like the one commercial on TV .... two things i have done with properties that i have gutted is put back 5/8" drywall on the walls, not 1/2" ( harder for them to break) and i install solid doors, no hollow core doors . it is almost impossible to make a place tenant proof, you can do little things that help to last them a little longer.

A four-plex out of their core markets would probably be outside their threshold to travel and do the work, but I'm sure there are general contractors with loads of experience in your area rehabbing units at your scale.

Only long term potential of that would probably only effect downtown/midtown core.

Then after that, figure out how much you want to allocate the different strategies (real estate asset class, equity versus debt, core versus core plus versus value-added versus opportunistic, etc.).

Instead of investing a large amount into a single property, you can diversify the same amount into many properties, investment types (debt versus equity), classes (single-family homes, multifamily, self storage, etc.) and strategies (core, core plus, value-added, opportunistic).

In addition most insurance companies will not insure a property if the roof has too many layers on it.To test the integrity of the roof usually a roofing company takes various core samples.

A core object of the venture is to create an asset with a view to sale or flotation in 5 years?

Don't buy in the roughest neighborhood in the urban core.

You can certainly find those deals at those price points but they are almost always urban core Hoody type properties with all the associated risk/reward scenario..

There are several private lenders who will accept with high down and great FICO core.