Here's a deal analyzer template that I use.Even then, I recommend making sure whatever property you buy can also cash-flow as a long-term rental in case things don't work out.

If so, how did they work out for you?

If you are handy and you live locally, it may work out  But if you need a contractor to come from a larger city, they will charge an arm and a leg, if they come at all. 

You can find guys who are unemployed before you contact them sure, but that doesn't ever work out for you lol.

I don't see that it would add appreciable value for the appraisal or for rent, AND when you go to re-sell you would probably want to tear all that work out and put it back how it is now as your typical buyer is probably an owner-occupant and would prefer it as it is now.

Selling your property to an LLC can work out, but there are things to think about.

In 99% of cases the seller will pay the buyer's agent share of commission but not a bad idea to ask what happens if we find a property where the seller isn't paying any buyer's commission - in which case if you're working with the agent then you should expect to pay whatever fee you work out with them. 

Type of property - Choosing a triplex and fourplex is ideal but a duplex will also work out. 3.

However, in my experience inherited Tenants hardly ever workout and even less so when rent is going up by that much. 

If 80% doesn't work out right away, think about going for a lower LTV, like 70% or 75%.