one thing I find in our markets is the larger multi family new developments just don't pop up one day.they are 3 to 4 years in the making and its a little like stopping a cruise ship once it gets going .so what we are working on today in planning and permitting we wont built for another 2 years or so.whats coming on line today folks bought and started in 2015 and 2016.. so that can lead to over supply for sure in the rental realm. 

We plan to renovate all properties into high-end sale or rentals. 

We went with a contractor highly recemmended by some friends who recently had a larger house renovation completed.  

Personally, I prefer to manage all my properties because a) no one cares about them more than me, b) there's no PMs in my town worth a crap anyway, c) my properties are fully renovated and rent so fast that PMs would do virtually no work for their pay anyway, d) I'm a control freak, e) I make more money. 

We bought them in cash and have proceeded to do some renovations on it. 

This is a two bedroom house that is being fully renovated.

You should be able to keep the reno crews busy with all 3 units, rather than dragging it out and renovating one unit, renting it out and moving on to the next.  

Once you know the costs of renovations you'll save money and a headache in the end.

I realize I am a little late to contribute, but we renovated 2 bathrooms in Nashville in an extremely short window (1 week) and can't say enough about the contractors we used. 

You should be able to do a massive renovation in just a few weeks if you have a good crew.I do agree with not risking bad reviews by listing on the big sites too soon.