wear and tear. return the deposits and start fresh. hold the new tenants to your standard.

They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.Consider working with a list broker for some good suggestions. 

The example that you use ($175-200k home) may not make a good rental.

For example last month i was charged $250 to put salt on the steps and sidewalks. 

If you go to the forums section for completed deal diaries you will find a lot of examples with that information.

(For example say a 4 bd/2 ba turned into a duplex each having 2 bd/1 ba)I am also wondering how distressed a property must be to qualify for a 203k... does the home have to first be considered to NOT be in livable condition, or can this loan be applied to a paint and carpet rehab?

For example "construction finance" "master planned development" or "new lot sales" in my hometown of Bend Oregon.

I'd love to see an example. 

The buildings are different and there are also basements for example!

You could, for example, hire someone to show the apartment and provide general information to the potential tenants.