Get a sense of the neighborhoods, comprehend the dynamics of the area, and evaluate the general investment climate.Remember that doing your research and having a firm grasp of the local real estate market are essential for successful real estate investment.

@Daniel Stoychev both location and numbers are vital to consider when evaluating a RE investment.

I know the OP included a map, but I still don't want to assume.That said, just about all of the City of Dayton can be evaluated on street-by-street, block-by-block basis.

Since no one with direct experience answered yet...I don't have direct experience but saw someone else go through the initial evaluation period.

Also, business cards are evaluated differently and high balances aren't treated as severely, if at all.My main concern is how to structure a deal so these get paid back in a timely manor.

If you have not run your own business beyond real estate before, I strongly recommend that you get in touch with SCORE (Service Corp of Retired Executives) at www.score.org.They are a free resource (part of SBA) that will help you to evaluate the financials of the company you're looking at buying, build a business plan and to understand what you're getting into. 

All properties evaluated by cap rates suffer due to under market rents.

.), living off of next to nothing, and looking up in 12 months to re-evaluate.

What are the things that you evaluate to determine a property to be a "strong asset"?

Instead, they typically employ a sales comparison approach to determine the property's worth, using the income to calculate the DSCR, which usually needs to exceed 1.0 for most lenders.Assuming you have a solid track record with the property and there's enough equity in the deal, leveraging the After Repair Value (ARV) on a sales comparison evaluation could enable you to refinance into a bridge loan until the necessary work is completed.Maybe a mortgage broker specializing in traditional loans could offer insights into construction-to-permanent loans