New roof, new kitchens in both units, replaced all toilets and vanities, new flooring and paint, upgraded to LED light fixtures throughout, new exterior paint.

I'm currently getting an estimate for exterior and roof damage from the last storm a couple of weeks ago and planning on pushing the insurance on that as well.

Renovated the units and some exterior and added HVAC systems.

It's much easier to tell whether a person is full of s**t or has their act together if you are interacting with them in person as opposed looking at a file (much like the example above).Landlording is about managing people at least as much as it is about managing spreadsheets. 

If the neighborhood wouldn’t suffer from those who chose not to invest in the exterior of their buildings/landscaping I’d be all for getting rid of the HOA. 

Architects follow very details codes, ordinances, bulletins, etc. and other industry standards to provide interior and exterior spaces that are safe for utilization by all. 

The current owner did put in a new pool liner, painted the exterior, and separated the electric for independent metering.

The type of repairs also varies based on the loan type, here's some information pasted from (not my site) https://themortgagereports.com/18228/which-fha-203k-loan-home-construction-standard-streamlineThis is the work which is allowed via the FHA 203k Limited: Repair/replacement of roofs, gutters and downspoutsRepair/replacement/upgrade of existing HVAC systemsRepair/replacement/upgrade of plumbing and electrical systemsRepair/replacement of existing flooringMinor remodeling which does not involve structural repairsExterior and interior paintingWeatherization of windows and doors, insulation, weather stripping.Purchase and installation of appliancesImprovements for accessibility for persons with disabilitiesLead-based paint stabilization or abatement of lead-based paint hazardsRepair, replacement or the addition of exterior decks, patios, and porchesBasement remodeling which does not involve structural repairsBasement waterproofingWindow and door replacement and exterior siding replacementWell or septic system repair or replacementAnd, this is the work allowed via the FHA 203k Standard: Major rehabilitation, such as the relocation of a load-bearing wallNew construction, including room additionsRepair of structural damageRepairs requiring detailed drawings or architectural exhibitsLandscaping or similar “site amenity” improvementAny repair requiring a work schedule longer than three (3) months; or rehabilitation activities that require more than two (2) payments per specialized contractorImprovements that require a plan reviewerImprovements that result in work not starting within 30 days after loan closing; or cause the owner to be displaced from the property for more than 30 days during the time the rehabilitation work is being conducted

It is taxed at rates capped at 25%, as opposed to ordinary rates - a subtle but very important distinction.

Personally I'd go by room, many reasons however the main one would be you can maximise your profits, and if you get a bad payer you won't miss out on a complete month opposed to if it's all down to one person.