I've estimated from realtors and contractors that it'll take $8.5k plus a Murphy bed to command rents in around $1.3k.I'm looking to fix it in mode of the Houston micro condos in that area.  

Here are my numbers:$82k PP and CC$60k renovation (fully permitted)$3k holding and misc$145k all in$200k ARVRents range from $650-850 (of course I think for a brand new unit we'd command the highest rent)$55 gross profitSo if I went traditional I'd spend another 13k in closing and agent fees.When our investors fund the entire deal we share 50% of profits so why not find the end buy and hold partner in the beginning and give them that 50% discount on the property.

They do exist and command high rents, but unless you are on the list of these companies and have multiple units in desirable areas it may be difficult. 

Quality individuals are hard to find and the wages they can command are also very pricey.  

It doesn't matter how disconnected your command is from a prospective tenant or client.You never know when one Saturday you're the NCOIC/OIC over some group at an airshow and low and behold....IG investigation.The military and their families are a great investment opportunity due to the consistency and longevity of their demand.

The property will be easier to rent and command a higher price if you have laminate flooring instead of carpet .

Now the other lamdlord may get your tenant in one of thier units as a result but if it is truely the market you will be able to get someone at that price or you can renovate and command the higher rent but i imagine that is a costly renovation.

I flip and my friends who are REI also seeing shrinking profit margins not only due to rising material and labor costs but also the loss of multiple bids.However, with any market there are locations still commanding high dollar.

The main home was built in the 60's, so I understand that maybe it's not going to command the same price per square foot as a new(er) build, but in your opinion, is there any reason to consider refinancing and hoping to get a higher appraisal?

Whether this is oral (no written lease) or written, they both command the same legal obligations under whatever state the residence is in. that being said, it is never in a landlords best interest to allow someone to be on an oral lease, since oral leases always default to state law, and give landlord no control over what tenant can and cannot do (outside state law of course)as far as why?