My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

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There are always ways to increase the value of most homes, but that is also a crap shoot.

Only reason I've been doing it is to get 0% business credit card limit increases.  

After completing renovations, the estimated appraised value has increased to $370,000.

With the increase in prices and competition over the last few years, these figures were so divorced from reality that these people now typically advertise 8% to 10% at the most, which, unsurprisingly, is still higher than reality.

Don't forget to ask when the last time everyone's rent was increased - with section 8 you can only do that once/year. 

I like the cash flow and see the potential for increasing rents, but I’m hesitant about overpaying.

That way they keep their licenses and ratings.I don't see much of a difference really.Don't keep them out as they will get increasingly suspicious and they might pull your permit for non-compliance.

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans