WWC likes to create several levels of value add in a community, with various levels of interior improvements.

I would suggest starting in areas like Merion/Hungarian for value-add opportunities, South Linden for fixer-uppers, and Whitehall - improving market.

If the repairs are capital improvements (e.g., replacing entire siding), you’ll need to capitalize and depreciate those over time.The unpaid rent is considered a loss, but it’s not directly deductible.

You may be surprised how quickly the MLS value can improve with improved curb appeal alone as well, so consider the landscaping if you want a quicker way out of the property. 

Interest rates are showing signs of improvement. 

That said, some lenders are flexible if you can show the improvements made. 

I'll re-post here if I notice improvement :).  

You would determine an amount to set aside for repairs, improvements and vacancy beforehand.  

Are there things it doesn’t do well, or improvements you think could be made?

It’s a small single family three bedroom one bathroom unit, I bought it for cheap and plan on renting on the higher scale by making minor improvements such as flooring, fresh paints and of course new kitchen and bathroom