Property can be improved and rehabilitated by the property owner.  

I wouldn't consider this a rough area, though not great, and it seems to be slightly improving.

Due to improvements inside and the shortage of houses in that price range in our area, I think I could sell it for around $140K.

IDOT made a lot of improvements to IL-59 between Plainfield and I-55, though downtown Plainfield remains a speed-bump on that highway as does the I-30 junction just south of downtown Plainfield.

So good to see this kind of improvement going on in the Holy City! 

All properties use the same percentage and the land and improvement value (they break down the property value into these two parts) will appreciate by a certain percentage per year based on your county regulations.

I am in process of notifying NJ state dept of consumer affairs of change for my HIC licenses (Home improvement contractors) and Tax man for my registered agent location.

When I had this situation of rents way below market I incrementally raised them while also making improvements to the property.

There is NO credit applied to the purchase price for improvements oradditions to the property.

Upside-1.Once it is rented to a good tenant the returns are great2.There are staggering improvements in the neighborhoods every year and I believe this Mayor is going to speed up this process.