My question is: is it possible to raise the rent up to market rates if a new tenant is placed, or does the unit need significant upgrades to justify such an increase?

Its mostly self directed but the course structure is broken down very well and easy to follow along.  

would converting an older home into a duplex be considered an upgrade then?

We own another duplex in the area that has done very well but bought it 7 years ago.Sale Price: 426KBeds/Baths: 4 beds 2 bath on one side/ 3 beds & 1 bath on other side which can be upgraded to 4b/2bath.Closing costs: $8749 on Mortgage:  4.5 % 30 year mortgage with 25% downRepairs & Rehab costs: 30-50K to add AC units, new furnace, new electrical panels both sides.  

So after research I know I'm able to claim this on my taxes but most places say it as to be broken down over an 84 month period.

I dunno, guess I'm just too dumb to figure that one out.... and by the way: the classes are $20K max, and NONE of them qualify as pre-law.Also, depending on the scenario, towing fees can be upwards of $500, enough to feed their family for the month.... and then people wonder why drains get filled with concrete, walls get broken open, copper gets stripped - with the water still running - or buildings get torched when there's an eviction. 

The mortgagors reported the mortgage interest on their returns, which excludes us from being able to capitalize the same interest on our returns.There is more research being done..we shall see what becomes of this situation.Another quirk in this situation is that one of the properties we signed a lease agreement with permission to upgrade the property.  

I plan to refi in the spring with a reasonable expected appraisal value to come back around 82k without doing any additional upgrades.

Yes, I always install it if it is missing or broken even though my property is in the low end range property.

Some are incredible homes of old money auto execs that can be purchased for a steal... or intern literally broken into and all of your stuff stolen.