Highest apprasial for the lowest price

[Denise Grez]

My husband and I just purchased our first 4 plex in Loveland, Colorado. We want to renovate the units ourselves to get a cash out refinance. We have currently renovated 2 units and one more to go. We decided to try to make the renovation as inexpensive as possible. We painted the cabinets instead of replacing them. We hired someone to paint the countertops. We replaced the flooring, carpet and removed the popcorn ceilings. We spent about 18,000 for the renovation for each unit for everything. I would like to know your thoughts to get the highest appraisal. We want a balance between getting a high appraisal and forced appreciation without over improving.  Although I am happy with the finished product, I feel like we could have done more to increase the appeal. What are your thoughts for making improvements for getting the highest appraisal for the lowest price? 

Before the renovation

After the renovation