In the beginning for me it was skill that needed improvement.

Improving the house can Increase your cash flow a little. 

Basis will be what you spent to purchase the property, plus improvement costs.3.

With existing properties, you can start earning rental income faster and build equity through sweat equity by making improvements yourself.

It's a fine balance between economy and what you would do for oneself, but creating a space that feels like home should be of primary focus.If you're looking for some insight into re-leveraging any investment properties for capital improvements, furnishings, etc, some lenders can utilize AirDnA projections to qualify. 

Quality of Work:Flippers often focus on cosmetic improvements to make the home more appealing quickly.

What can I do to improve the situation? 

I would also suggest forcing appreciation to reduce market speculation (property improvements, adding bedrooms, finding ways to increase rent, buying at a discount, etc).Good luck!

Basically an informal audit of ones portfolio.This could be as simple as creating a few benchmarks (specific ratio of expenses, total PM fee ratios, vacancy rates and duration,etc)As much as one could assume they have a well oiled portfolio, an outside investor could find areas of improvement.

You don't hire a basketball coach to improve your shooting skills without first playing the game to see if you like it.