Whatever the occupancy is today you should plan for it to go lower in the first year if there are undesirable residents that you need to cycle out.

Therefore that’s a slow and essentially undesirable market to even think about buying in unless it’s a low income area.

However, the normal background and credit checks will almost always weed out undesirable applicants. 

., or... maybe it weeds out the undesirable potential clients, so I can focus on reasonable, like minded, common sense clients?

Latest news is that BS is going out of business at the end of the mont.In the last week I was able to obtain few pictures from the outside the house showing no work done outside at all, and I just can imagine what is going to be inside.So folks if you thinking of investing with Morris and Natali Morris from Morris invest run away fast or you'll get burned as I did.Now #claytonmorris  moved to new markets like Detroit Mi, Jacksonville Fl and who knows where elce, so be aware.At this point I am in the mud not sure what to do.

I guess the only concern is you are afraid of paying the improvement cost, getting undesired or unqualified "improvement", losing the ability to increase rent, etc.

If i go this route was considering a $500 limit, which should supply enough drywall, mud, screws, etc. to get them through the drywall repair stage.

I would never "gut" a house unless it had an issue requiring it (water and mold, smoke damage, termite damage, etc)We usually will "fix" something instead of replacing it if we can. ie, a door with damage gets wood putty or sheetrock mud and then a repaint.It's always a balancing act to put a property in market condition and still have the margin  for adequate cash flow.

I mudded, taped and textured everything.

You can always try and cover it with the flooring and/or slope some new mud depending on how much of an area you need leveled.