Over the past few years, my wife and I have worked hard to improve our financial health—we’ve raised our credit scores above 800, paid off all debt except for our mortgage and student loans, and saved a fair amount.

Who makes decisions on improvements?

., land) from the depreciable building and site improvements.

It's slowly improving and I suspect sec 8 would be a poor choice.

Interest paid on acquisition indebtedness and home improvement indebtedness is generally eligible for the deduction.  

This shows you're open to improvement but won’t let a picky guest's minor grievances dictate the narrative.Avoid Emotion: Keep the tone neutral and professional.

Start with one, see what it really costs you and what you could improve on.

Does anyone have any tips on the best way to finance renovations/improvements for properties like this?

If they are below market rent, that is OK as long as there is room for improvement and tenants won't be an issue.

My plan was to buy, improve a bit (house was not in bad shape, just need some TLC), and rent out and hold at least 2~3 years.