Model Question

Hi I am interviewing for a small local west coast shop and have been given a value-add model test with no rent roll, but have been asked to model X% of units to be renovated, I have only ever modelled with an actual rent roll and that 100% of units were going to be renovated. I have a broker OM, but obviously their projections are aggressive. How do I make an actual assumption for what the real in-place rents are with just the gross potential rent and loss to lease from the T-12? Also, how do I know which units should be renovated if it’s only a portion of them and I don’t know when the leases roll? Also, basic question but do floating rate loans have interest only periods and do they amortise?