Other times, capital is used for capex improvements with the idea that they would refinance afterwards.

Focus on RE saving/investment which will improve your overall financial position.

I used to work with great Realtors who would show up on appraisal day and greet the Appraiser with a folder full of comps that were very flattering, plus paperwork describing in glowing detail all of the improvements to the house and their value.I would insist on a new appraisal, and either have your Realtor do the above, or do it yourself.

Some of my properties have appreciated and some months i do have to be negative in cashflow but i am holding on, improving my systems in place because i am doing it for the long term. 

C) property needs to have signs of city improvements and be close to a popular area or near the downtown area in that city or town. 

But if you do need to improve the property to increase the value, then we want that work to be completed so we get the full After Repair Value (ARV) on the home.  

Many times, this approach has helped us avoid having to follow through with the eviction altogether because they will pay when they start receiving the required notices.Consistently sticking to the process also helps save time and energy by reducing the need to address delinquent payments on a case-by-case basis and lets the residents know what they can expect if they do not pay on time.Best of luck, and I hope this situation improves soon!

What I paid for it + the cost of the improvements (~$200k)2.

This is where I think it's important to improve condition and curb appeal, because that condition/upgrade premium could be used as support for an asking rent that is closer to the payment standard if nearby comps are lower quality and have lower rents.

Multiple improvements done on this duplex in 2021, including new roof, gutters, flooring, drywall, electrical, appliances, and heating/cooling unit for the second floor.