It just has to be clean and meet code for rentals, unless you want your "brand" to be top-of-the-line rental properties which can command top-of-the-scale rents for that area.My $0.02...David J Dachtera"Success is not a destination.

If I issued a $200k loan on an investment property expected to command $200/month in rent for someone with no other income besides that $200/month, it would likely be called predatory lending and I would lose my license because I probably would have had to commit fraud to close it. 

The city will probably command a higher price point..... just have to weigh the options.

I'll be discussing a lease renewal for a rental property soon and I'm looking for some reliable evidence of what the property could command on the open market.

I'm listing is at market price so I'm not dependent on the unit commanding more rent because of the updates.

Which leads to the next point: Are your finishes at the end going to command the $1100 rent you seek?

Any seller worth their weight in salt is going to want a much higher rate than the senior debt (junior debt is riskier, and therefore should command a higher rate) and the likelihood he'll want to amortize that over anything greater than 10 years is low.That being said, if you can even cash flow 1 dollar with zero skin in the game the CoC return is fantastic.

At the same time you can indirectly educate them on why houses in general cannot command the highest price (lack of upgrades, need of repairs, etc.). 

Having the licensing authority benefit from all transactions that fall within its purview is the reason that real estate commissions are 200-300% higher in the US than elsewhere in the modern world.That is why a listing agent can command 3% of your home price for listing a house on the MLS. 

She is the command center =)I hope to connect with like minded people so we can help each other build up!