So, suppose you refinance the property after remodeling, and it appraises for a higher value.

@Caryn Seifert agree with @Jonathan Greene about $500 being too high.Perhaps give prospects a choice of higher Pet Fee or higher monthly Pet Rent?

In general you want to be above the mid price point to avoid the lower tier tenants that require more effort, have higher delinquency rates, higher eviction rates, and often higher tenant flip costs.  

Potentially Higher Returns: Real estate often yields higher returns.Cons1.

I "could" make higher returns on my equity if I borrowed, but it also increases the risk.  

So, if data is only from the spring and summer then interpolated over the year, it will be way off.Also, there are some areas on the other side of the lake which are WAY nicer and can ask higher dollars. 

It’s possible I could get closer to $4,000 in LTR rent but a real estate agent ran comps and reported it might be a stretch / bring higher DOM.

I do plan on scaling, so I think I am going with the higher cash out.

Although one property will have negative cash flow, the ability to reinvest could yield higher returns across the portfolio.

The other is a non-traditional offering (higher risk and ideally higher return that even with some large issues seems likely to hit the high returns and is very frank about the problems they have encountered).