Assuming your investment projections is 5+ years, it's usually worth it to sacrifice a bit of cash flow to prioritize growth in my personal opinion.

If you get a high-paying tenant in there, you can increase your odds of increasing the home's value.So you’d prioritize cosmetics upgrades, or a whole remodel, rather than “new construction”?

To make things easier, I am really just prioritizing cash offers so the process is more seamless.  

It really depends on what you're prioritizing in your investments.

My concern is whether the city could deny permits for these modifications, such as removing walls or converting a garage, or if they are mainly just concerned with safety and habitability.

This is a great place to invest for safety and appreciation.

Balancing job and investing stress requires prioritizing properties and strategies that align with risk tolerance and time commitment.

The brick construction is a plus for durability, but check for any signs of foundation issues, especially if the property has settled over the years.Be sure to budget for updates to key systems—plumbing and electrical upgrades can be pricey but crucial for tenant safety and modern functionality.

**Proactive Steps**: - **Prepare for Inspection**: Ensure the property is in excellent condition, with all necessary safety items in place (e.g., smoke detectors, proper handrails).

For example FHA guidelines say you can deny an ESA if they cause an undue financial burden, cause a direct threat to the health and safety of others (the letter from the neighbor supports this), or cause substantial physical damage to the property.