Honor it, and doors keep opening.

I'm okay with painting and adding some cosmetic appeals to increase rent but I don't think I know enough to jump into a property that needs the kitchens or bathrooms fully demoed before it's safe/acceptable to live in.Ideally I would like to buy in Charlotte or the surrounding areas.

Maybe the numbers would work for someone else, but my rental standards are a little higher (eg. for me, drop ceilings are alright in a finished basement, not an upstairs bathroom or kitchen.) 

I added a half bathroom out of existing space on a unit and comps showed t added $50k of value.  

Sellers — if you’ve got an FHA or VA loan with a low balance, you might be sitting on a hidden goldmine.Success Story 1👇A client in Fallon, NV had started renovations—tore out the kitchen, bathroom, and flooring—then realized they couldn’t afford to finish.

One of the many problems they were having was sewage was backing up and leaking into the basement bathroom for days. 

And the that includes 2 living rooms, 3 bedrooms and  2 bathrooms and a kitchen upstairs also laundry hook up.

Remember 4 units with 4 tenants has virtually 4 times the maintenance/cap ex as a single unit due to 4 times as many kitchens, bathrooms, etc. in the absence of a local experienced LL examining your underwriting writing , you can use 50% expense/vacancy ratio which can provide a rough estimate of expenses/vacancy.  

Bathrooms in terms of water exposure. 

Last year I did a rehab where we added a half bathroom out of existing space.