But, I assume it ultimately comes down to area and income class.

“However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”

So let's just stop there with the list and say it took an extra $5,000 to ultimately fix everything else you found as you did the Reno.

They focus on the property’s income potential rather than your personal income, which is perfect for rentals.Tapping into Equity: Using the $80k in equity from your home could provide a substantial boost to your investment fund.

If the garage is unsightly, maybe take it down, it could boost curb appeal. 

I do think that could boost revenue, but I'm weary to put more money into this property.   

Hey @Kyle Kline, these are all great questions to ask and ultimately it will be personal preference. 

If the answer to all three is Yes, I buy.And let life unfold.I have NO IDEA what the ultimate return will be….NONE….And neither does any other investor if they are honest…..most crystal balls I find are broken.But if one acquires the property is a solid long term manner based on fundamental investing principles and is never forced to sell…History indicates the long term trajectory of price and rents are up.In my experience, real estate follows cycles……. 6 or 7 years of a bull market, 1 or 2 years down (though the up is always larger than the down), 1 or 2 years of flat which then sets the floor for the next run up.

Ultimately, the decision will depend on your investment goals, preferred property type.

Ultimately, the Frank Lloyd Wright aspect can be a blessing or a curse.