I'd be looking at $10k to replace all the windows and patio doors, or nearly $15k if I keep the arch design.The other alternative is of course to simply not replacing the windows, unfortunately one of the main selling points of the house are the views and the ugly aluminum windows get in the way of that.The property itself is one of the largest in the neighborhood(3500 sqft), the closest comp is considerably smaller(2800 sqft) and not freshly renovated sold for nearly $1m last year.

I don't think you have leverage in this unless you're offering all cash, for all properties with a two week close, 5 day contingency kind of deal.What is the alternative use?

There several great alternatives for you. 1) You could be the money side of the investment while someone else is the acquistion and development and management side. 2) You could be a Private Lender that holds Notes. 3) Or, you could do Commercial properties. 4) You could do new construction. 5) You could be an investor in a Syndication. 6) You could own REITS.

To help prospective buyers envision possibilities, a great approach is to virtually stage the place, and also offer alternate floor plans.

Looking at data from Preqin, a research company that tracks the performance of alternative investments, a $100,000 investment in private real estate beginning on January 1, 2001, would have been worth about $380,000 on March 1, 2017.

Your easy alternative is Turn Key, but the downfall is that you pay full retail for the property. 

Is anyone aware of alternatives to paying LLC annual report fees?

Another alternative would be a short sale.The actual sale at auction IS "the foreclosure".

Good tenants don't generally pay a 12-20% premium for a nicer place that's otherwise similar to alternatives. 

Then, you can compare how that asset is likely to perform - vs alternative purchase/s!