The apartments have small dinettes off the kitchen that can fit a 4-person table.

New flooring, new windows and new kitchen and baths.

First month is drawings, permits, and demoMonths 2-4 are construction: HVAC, plumbing, electrical, paint, trim, flooring, kitchens, baths, likely roof and exterior paint/sidingFinal week is punchlist, landscaping cleanup, listing prepComing soon to pending is typically about a week30 days to close

Within each point of entry there's varying levels of risk: by-right entitlements vs. zoning relief; kitchen and bath and/or management upgrades to an existing building vs. ground up construction; C/D location real estate vs.

You can say something like:“Always use bathroom and kitchen exhaust fans when cooking or showering.”

A well stocked kitchen, carbon monoxide detectors, fire extinguishers, etc. 

(Reserve funds needed for the unexpected roof, furnace, kitchen remodel . . . etc.)

A couple quick tips: always order your kitchen materials first—cabinets take the longest to arrive, and late cabinets delay the entire renovation.

Rehab consisted of complete gut renovation of kitchen/dining area, new hardwood floors and refreshed bathrooms (new vanity and paint).I am bullish about the long-term appreciation prospects of the property and have trouble envisioning the hold strategy over the next 10-15 years. 

However, the kitchen countertops would remain as they are.