Perhaps a grander entrance area, flower boxes and better front path to the door would be a more economical way to go....

John,pm me and I can send you a development checklist that I have used in the past on new developments if of interest.My $0.021) I would get multiple bids on the drawings from 3 different contractors for new construction, it will help keep the contractors honest with their costs.2) I would set up a meeting with the local municipal economic development representative(s).

Solid economic growth, good job creation, great absorption rates, rent growth will be consistent this year as well as low vacancy rates.

One of fifty or a hundred homes in cracker barrel land up here in Summerville is not going to fare well either as builders keep building multifamily or when the area faces greater economic pressure in the future.

Curious what websites and sources others use to do their market research (i.e. identifying areas where markets are hot, rents are up/down, a market's economic growth, etc.)

There is no more odious and damaging economic policy that comes from the heart than rent control.

The economic development group in Indianapolis is aggressive. 

The purchase price is cheap but you have to get the economics of the area together to determine if you pump 100k in you will have a park that is now worth what you paid or if you pump in 100k , you can get this to 400k .  

And not only that, but BRRR is a very tough strategy to make work here in the capital region if you're rehabbing anything 4 units and smaller, because the banks generally appraise smaller properties based on comps, not on the economics of the property, so even if you get awesome rents and manage it perfectly and make boatloads of money on the property, there are too many other similarly-sized properties on every block that are selling for peanuts because they're dumps, and the banks still let that drag your value down.  

If properties are not appreciating, then there is limited demand which indicates poor economic condition for the area.