Having someone who has owned and operated a similar asset is worth its weight in gold. 

What is the condition of the roof, siding, plumbing, electrical, etc?

I do have experience with significant home renovation but for a personal residence, based on my experience with this I would prefer to buy a property built after 1970 if possible but not sure if that's realistic, the only deals I could seem to find from the MLS are very old houses which I know often brings more challenges with the renovation.Would appreciate any references or suggestions anyone has, so far I've only invested in rental properties that were already in good condition bought with a loan.

Quote from @Grayson Grzybowski: @Crystal SmithThank you for taking the time to provide your insight on the questions I have asked.For your introductory statement, I understand this is how debt should be used. 1) I have already went out of my way to ask for as high of a limit as I can just to have it on stand by. 2) I am trying to build value into our home to increase the equity faster so I can utilize it as leverage in time. 3) I have already reached out to a lot of different investors and have their terms & conditions at hand. 

Tie it to condition of the property on leaving.

Here’s a quick checklist to cover your bases:Property Condition: Get a thorough inspection to assess major items like the roof, foundation, and HVAC—this helps you plan for any big repairs.Financials: Account for all costs, including taxes, insurance, maintenance, and property management fees if applicable.

But of course, the actual value will depend on a lot of variables - local market conditions, planned renovations, etc.

Because based on what I see for current condition fair market value appraisal I’m kinda wanting too use that as a confidence booster for what I’ve come up with for ARV. 

However, the percentage varies based on factors like location, property age, condition, and expenses such as taxes, insurance, and interest rates.

Taking a quick glance at comps your rent is high, 6 Armstrong st Apt 2 looks to be renting for $325 less and is in very similar condition.