Perhaps having your architect draw up a prettier new sign in a place on the neighbor's property that does not affect the view as much- and you offer to open your wallet and build that sign as well as tear down on the old one.

If you are an out of town investor then I fear investments in this neighborhood (and those like it, Toledo has several) will result in an overall portfolio with higher-than expected wear-and-tear, lower resident financial stability directly translating to shorter times between re-leasing events, and I am curious how much higher the values can go (From $60k pre-2009 to $8k when I bough and I am now steadily see $60k listings again...even a $90k one!).

All, of course, produces more wear and tear on your rental unit.Gail

Welcome Brandon - I have properties here in the wyoming valley.I am a native to the area.Scranton has many hoops to jump as an investor - esp. an out of the area investor.One is you'd have to hire a property manager if you do not live in the city of Scranton or within 20 miles of the city.Real estate taxes are high -that plus the current interest rate and ask prices makes cash flow an issue.You can find "deals" but please do your due diligence.Here is an example of a potential deal I am evaluating in the hill section of the city: 20 y/o, 2000 sq ft. 3b/3bath TH - Needs paint, new carpeting, and general wear and tear repairs after a 4 year tenant.

Most likely an 'old garage' will be a tear down and complete rebuild.

I had Rental Duplexes and some Houses in South Tampa for 30 years and the kinds of damage and rot you are talking about with the 100 year old side of the Duplex need to be shown to Code Enforcement in case they would consider it a Tear Down structure.

Is it a complete tear-down to the studs? 

I would typically consider normal wear and tear, unless there were repeated attempts to mount the TV unsuccessfully, such as missing the studs multiple times, which I have observed on numerous occasions.

I would possibly do a redevelopment/tear down if doing it over (rehab was that extensive). 

If you provide them, you need to maintain them and they may take a lot of wear and tear from tenants.