I decided to divide my answer to your post into two parts: what to renovate, and lessons learned.What to RenovateThe renovation items depend on your target tenant segment.

While this may seem high, appreciation for the segment we target has been >15% since 2013.There is another advantage to high-appreciation markets.

Identify, define and understand your ideal target market and what segment of that target market you want as a client or prospective client. 

Technically you take the entire city's price range ($0 - $1,000,000+) and divide it in 4 segments.

I would like to be able to see neighborhoods so I can segment my market.

Learn this segment first and then start learning the level just below it next.

It seems to me that Family Offices are a very small segment to focus on.  

He's a very experienced loan officer in the 2-4 units segment.  

They merged with Co-star which segments every piece of data they can to fee brokers and other subscribers as much as possible.I find LoopNet has a lot of junk on it now.

What I mean is that they invested for the return but now have a matured lien/deed that they do not want to foreclose and take over a property on....We had an individual approach us regarding a note he had and it fit our non profit segment so we purchased this, paid him a little more than what he was originally going to get as an investment and will be using this for a family in need with seller financing.