Is it good idea to do this project spending about 10k now.

I have had no luck trying to propose seller financing through realtors for on market listings.Bottom line, either spend some time and/or money marketing direct to seller or networking with investors that have been around for awhile.

Aside from that the biggest value add areas I see are as follows: Kitchens, Bathrooms, decks/patios (if added), additional rooms/bathsKitchens and bathrooms tend to be the go-to, but all of those can help you get the most bang for your buck. just keep in mind that if the area is already of high quality, then it may not be the best area to spend the money vs something that is blaringly in need of an update.

Just make sure that it isn't turned off for an extended amount of time.

Quote from @Evan Polaski: @Jay Hinrichs, while I wasn't going to call them MLM, I did attend an Armando Montelongo (A&E's Flip this House from mid 2000's) seminar at a hotel conference room in 2007 or 08, which was the free funnel to spend $1,500 for a three day seminar or $25,000 for an in-person mentorship.I have seen similar promoted with Christina and Tarrek from Flip or Flop more recently.I didn't start realizing how profitable education can be until the last 5 or so years.  

Which ever market you choose build a team and spend time connecting, networking.

I've seen where people add so many loan extensions with optional payment.Say 1k gives you a 1 or 2 year extension and this can be done 4 or so times.This agreement could be changed so many ways to make it work.You could offer a higher interest rate after 7 years to extend to 15 years.

The RE agent stated some properties on the river in the past did not get their lease extended to provide better river access.  

Americans are spending there $ toward quality of experience more than ever. 

It is up to the CPA to determine if the taxpayer is an "Affected Taxpayer" and if so which date/dates are being extended.