It is easy to provide well-intended 'bad' advice.My questions to you would be... 1.

., set salary, percentage of profits, or other methods)?

And you can be a landlord that gets a very poor return because they haven't utilized their space well by changing the layout.

@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.

Price range seems to be so fluid from what I'm seeing - as I'm sure you well know this but a home in one town might be $20,000/$30,000 variation in another.

I did a direct rollover for a rental property.question: Can I deduct repairs from the remodel as well as take advantage of the depreation schedule as i do on a triditional financing. 

Obviously, their capital gains are well beyond the $500k primary residence exemption. 

So more Roth for way less in taxable income incurred. doing this is easiest in a Solo 401k if you qualify but can also be done using a checkbook IRA as well. check out this post that @Dmitriy Fomichenko made explaining this concept.https://www.biggerpockets.com/forums/51/topics/1223601-how-t... 

My experience with PPR has been consistent with yours, as well as the search to find them.  

It's likely you'll be able to raise the rent as well with the upgraded unit and you can look to market it during the time of rehab.