Also, you are not buying at a premium and can allow the property to appreciate if that said area is historically improving. 

Investing in curb appeal, such as landscaping improvements, can make a significant difference.

Meanwhile the  neighbors quality of life will improve once the new wall is constructed 2025 Q1 and the denser use is consistent with the Philadelphia planning commission's 2035 plan.

Additionally, considering the time value of money is crucial, as deferred gains and tax efficiencies may improve long-term returns despite upfront losses being largely on paper.

This second property is in a MUCH improved neighborhood, which draws in a better class of tenant, it's professionally managed by a trusted company, and it's structurally sound with recent major improvements.WHAT'S NEXT??

Replacing countertops, though, is a capital improvement and usually has to be capitalized and depreciated over time.

These plans call for six blocks, with buildings totaling 2.5 million mixed-use square feet, and a renovated 14.2 acres of open space with brand-new amenities and improved access.

You can refinance sooner than that but you'll need to paper trail all of the improvement costs that lead to the increase in value.

I wonder if rent control laws will be easing anytime soon in this city - other than capping rent prices, I don't think they do anything to help improve the quality of rentals.

Because significantly less than 100% of your investment actually goes into purchasing or improving the property, and the property is purchased at retail value (or worse), your returns will badly lag any benchmark of direct property investment.  2.