I work with mobile home dealerships and many of their customers end upgrading to new homes while selling their used homes.

Their slide deck, 85 pages is on their website, They believe that they will increase the properties NOI by 45% over 5 yr hold, mostly through rent increases after doing 5K interior upgrades in all 252 units, thus adding 19 million to value of property.

@Ryan Runchey If you are planning to scale up in the future, then QBO is a good option and you can start with the lower tier subscription for a single property, you can upgrade later when you acquire more properties.

@Tyler FergusonStessa is free with a BP pro subscription if you feel like upgrading. 

This is due to the fact that we were only looking at properties that don't need big upgrades. as I agree to your point of just jumping in, we want to make sure we don't jump in and then get out to realize the loss we took on it. 

Purchase price: $375,000 Cash invested: $80,000 Sale price: $605,000 Bought above market rate, held on for 3 years and sold to take out gain for upgraded property.

You can also apply bonus depreciation to some additional upgrades to  your property.

Really looking to upgrade to battery powered access control to be more efficient and cut costs during turnovers.

Regardless of which home you buy, you will need to spend some money in upgrades and fun features to maximize rentals.One last note:  I would not put too much of emphasis on a PSF analysis. 

Currently, the property is rented at $2100/month.The house, built in the 1900s, requires significant renovation, and the tenant frequently requests various repairs and maintenance, such as duct cleaning and appliance upgrades.