See what they do right, and find areas you can improve upon then make the jump.

Given current market conditions for sale and improving demographics, syndicator is planning on holding longer than anticipated.  

Our average construction time is about 8 months after permit is issued and we  are always improving.

I haven't spent a ton of money overall on improvements.

On the other hand, these both are markets that are growing steadily so once you improve the property the equity is there.

You need to improve the property to improve the tenant.

A two bedroom 1,300 sq ft cabin is going to go for way less than a 2 bed, 2,400 sq ft cabin.One of the issues out there too is that some are setup as legal 2 bedroom cabins because of the septic but then they have lofts and such that allow you to rent them out as 3 or even four bedroom cabins to improve the rent.You mentioned one nearby you with a similar layout.

We do some cosmetic improvements to bring homes to our standard, typically carpet and paint, upgrade lighting etc.

Quote from @Lorraine Hadden: What are some strategies you have used to improve or rebuild credit? 

Larger properties spread your risk.Be Ready for Some Sweat Equity: Many first-time house hackers underestimate this part, but putting in a little elbow grease can drastically improve your returns.