If the foundation is solid, the electrical passes code, the roof has life left, the plumbing is functioning - that's the heavy (and costly) lifting. 

An Engineered Cost Segregation Study gives the ability to substantiate the replacement costs to the insurance carrier.

Having a clear vision and plan on how you will accomplish those objectives will allow you to reverse engineer the process to really jump-start your career in real estate. 

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Some cities don't for example allow garage conversions, but plenty of people do them, but that could be an issue in the future, for example if you do more work and need a city inspection, let's say for electrical update, and inspector determines all the other appropriate permits were not pulled or inspections done. 

For example, an engineered cost segregation study is a very in depth study that includes an onsite visit and the engineers look at the blueprints of your property and typically results in the most tax benefits.

For my apartments in 44306, I get $750 with NO utilities included (tenant pays gas, electric, & water/sewer/trash) to non-subsidized tenants-- I don't accept HCVP tenants because the program won't pay as much as I get on the open market.https://www.huduser.gov/portal...https://www.huduser.gov/portal...

I will do a significant part of the renovations myself with previous skills developed (framing walls, running wires and finished electrical, laying the vinyl myself | drywall, texture, two exterior window installations, sawing out the tile for the wall, and hanging one door will be done by someone else).

[2] Are you doing the roads, sewers and electrical up to the property (or did you get the county to pay for that)?

New plumbing, electrical, insulation, sheetrock, paint, finishes.