Therefore, you need to become educated in estimating repair costs while walking properties to decipher if it's worth your contractor's time/energy. 

The appealing aspect here is the ongoing population growth and other economic factors.

Damaged energy markets and a swelled stock market as well as an interest rate past ready to increase.

Most in California. our small and medium communities are being left behind bc it takes too much time and energy to get to know every market and the returns the big guys need don’t work in tertiary markets. 

Not all markes would react the same (in relevant) to interest rate and everything, some markets are much more sensitive.So theory all residential would go up in value in any condition may not be true, it's only up in certain market only.What I laid out is talking on economics, which is always an overall generalization.

However how much are you spending is this even going to be noticeable to your bottom line, or would you be better focusing energy on other items?

Landlord / tenant laws are very reasonable, and there is strong economic growth in the local area. 

Unless the building is very well located full renovation of basement units will likely not pay off economically.

My recommendation if you choose to invest out of state is to choose cities in safe and economically diversified areas with above-average income and population growth.

They are in the energy business and want to purchase the home because it is near their children and grandchildren.