I would make one distinction and that’s between an expense and a capital improvement. 

Located in a promising area of Richland, MO, the home was a blank slate for value-driven improvements.

For an unrenovated 1+Den/1BA LTR in our section of Northeast though, $1,300-1,400/month is certainly in the ballpark of what I could comfortably get with some very minor improvements to the space between tenants.So all that being said, I think your target of $1,500-1,600/month for your 2BR units would be more than doable. 

@Jewell ArceneauxHow to drive ARV (my opinion)Improvements that drive the ARV the most: Roof, New Kitchen & Bathrooms, Flooring, PaintImprovements that DON’T drive the ARV as much: Windows, Landscaping, Driveway, Rough Plumbing & Electrical

Any improvements that were done over the years had to be done to code of that year . 

Would my previous industry experience (property management, acquisitions, asset management, Realtor) improve my chances of qualifying for a DSCR loan?

Burned my *** too many times lol.I am here to learn new strategies and take part in discussion regarding landlording and home improvement.   

I also wonder how this is going to work.. you cant tax a parcel that has lost a 5 mil dollar improvement ??? 

This is a good thing if you want to do some rehab, but again, you must be very strategic about how much money you put into a place, knowing it won't naturally appreciate beyond what you create in improvements.4) We're having a bit of a zoning crisis.

Improve the grade if water flows toward or pools near the house.