In some cases, after crunching the numbers, the profit margin was so slim—or even negative—that I had to pass on some promising opportunities.Here’s my situation: I currently own two properties—a primary residence and a rental property—both of which have substantial equity.

There isn't enough information in here about the current state of the house to be able to advise you, but I would think #3 is a definite no as it seems unnecessary from a cost perspective although that market has scale to accept it.

Current comps rent for $2450+ and the mortgage + HOA is $2180. 

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

Let's say you currently have DTI of 30%.  

Currently there is that extremely thin, hard, cheap landlord carpeting (and also an area with cheap thin stick on hard tile squares). 

I'm currently working with a lender that has a $50k minimum, and his rates and customer service have been great so far.

New here to the forum and I am currently looking to invest in Ohio for the purpose of providing section 8 housing. 

Zillow says the estimated current rent is $940, which I think is low. 

Quote from @Tyler Kesling: Thanks for the insight @Randall Alan on how current owners and markets might react to the ease on rates.