You wouldn't be able to to find loss of rent coverage on a property undergoing renovation. 

As a side note, our mayor just announced that we'll be undergoing our largest property tax increase in history. 

In addition, Kings Bay naval base, right across the state line in GA, is undergoing a major expansion as well.  

Jane Alstatt the way I do this with my clients is basically have them track expenses and when we get to October/November, we determine if it makes sense to undergo capital improvements that won't exceed the 2% threshold, and if so, those improvements occur in December.

 #2 rented for 350 #3 Undergoing renovation and not rented. #4 empty, no home #5 rented 350 and #6 rented 400.What do you all think the likely hood is of getting the tenants to convert to a rent to own situation?  

Also walking past a few of these properties undergoing transformations yesterday I saw another problem that may not be a simple solution.

West Adams/Midcity is also close enough and is undergoing revitalization, but may already be getting too pricey.  

There's a lot of awesome neighborhoods undergoing rejuvenation right now.

@Michael Siekerka - The revelation on day 3 was that we found out the other couple was undergoing marriage counseling.  

Also, I need to put a "temporary" roof because the house will undergo a gut renovation and expansion including adding a floor.