Great, attach your material and labor costs per square/ft.  

Hey Adam, Basically you want to take a look at comparable "after repair value" properties in the area to get an idea just how much value the property will gain.The quality of materials and extra work you do, will increase the value, but at a certain point you reach a point of diminishing returns, so you definitely need to find that sweet point

Jordan,Fortunately, my first Chinese investor actually have an EB5 visa and they have a project that did not materialize.

Carry 2-3 sets of everything and make sure it's all made with an easy to clean material (sheets, pillows, wine, toilet paper, water bottles, shower curtains, window curtains, garbage bags, shampoo, coffee, ect). 

Physical labor and materials are not the concern, it is the re-leaseing.

In my area for flooring  it is $3 sf for rip out and install plus materials.

I would suggest using the $ you do receive as rent for materials. 

For example, if a kitchen needs new cabinets and countertops, you can go to any store, pick some stuff out and get a price for materials and installation.

Leaving me stuck house hacking or renting at best.If had other properties generating passive income, or connections on getting materials at a discount, I could see this being a good deal.

Has he already paid for permits or purchased materials per signed work orders for the unfinished projects?