Maybe it would have skyrocketed our performance, but I doubt it.  

We have found that setting our expectations about what we want is helpful (financial performance, level of renovation we can handle, forced equity opportunities, number of bedrooms, etc) and then waiting for a deal to materialize. 

It creates over-leverage and the performance of one property is dependent on the other.

To assist us, we refined our pitch deck and performed some scenario analysis with our financial models.

So you’d be ok coming out of pocket another $130k and paying $780k for this property if the builders fail to perform?

You have yet to tell us who can perform, and if necessary, coerce, the clean up, let alone the fire fighting, let alone the redesign, if not big government.

Or that the remodel wasn't performed by a licensed professional. 

Just keep an eye on how both markets are performing, and maybe start small, like taking out $50k, so you can test the waters without over-leveraging.

The type of heater installed is a baseboard heater, which heats up slowly and is designed to run consistently for optimal performance.

...if so, how is it performing?