In my market, the medium/long term trend for RE values has always been upward, and the rental market has generally been strong, so it would have been great for my overall financial position to start early, and be aggressive.Also, relationships are huge in this industry, so get outside your comfort zone. 

Getting units that are in pretty-to-really bad shape fully “dialed in” my way costs a worst-case average of $18,700 per unit for my triplexes and $21,000 for my duplex.

We are taking down and replacing all of the drywall, replacing the treads and risers on the stairs and this includes paint, trim, lighting, etc.Laundry/mudroom renovations: $4,461 - similar to the above, drywall, paint, trim, flooring, some small interior wall changes to closets, etc.Dining/living rooms: $6,835 - the trend continues except here we are installing flooring.

If you falter in any way shape or form, you create a "loop-hole" and a Judge can use that "loop-hole" against you if a Tenant protests your actions.  

This will show trends, and give you an overall picture of the area.Just a few to get started. 

I'm not saying the condos you're looking at won't rent, but it's worth researching the vacancy trends where you're considering buying.Good luck.

The reality is that REOs are half what they were 2 years ago and the trend is down.

You'll start to see trends that are specific to your area, target buyer demographic, etc.

I have installed over the linoleum (if it is in decent shape)...

The roof and the foundations were in great shape and it needed only TLC.