That is our Bible or road plans for repositioning value plays in good hard working blue Collar areas of Ohio.  

Also wonder how appreciation plays out in that area as well.

I would only consider Decatur for a cash flow play, not an appreciation play.  

It's hard to harvest equity on these plays, unless you commit, long-term, towards very light leverage, as the only practical ways to benefit from the equity in your portfolio, if you plan to never sell it, only exchange it, for a lifetime, are to spend the cash flow, or cash out refi.

So things like, xbox/playstation ping pong for the kids maybe a turf strip to play some putt-putt for the adults etc...

Do number, size, or area of investments owned play the biggest role in that decision? 

If it's a long-term play, the potential savings on PMI with a conventional loan could be significant.Have you compared rates for both options?

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

I give it ten or so years before we start seeing this play out. 

Keep track of those costs this year, they come into play in 2025 when it's in service.