The place is really in perfectly adequate condition, but our plan is to go in and take it to the next level... replacing carpets with wood plank tiles, installing glass tile backsplash , staining kitchen cabinets dark and adding satin nickel pulls, adding stainless appliances, a dishwasher, disposal, built in microwave, resurfacing countertops...

However putting on an investors hat, I would remove and replace that, will cost about 5-8/sf to dispose, install new sheating, new asphalt shingle.

However If I had more money at my disposal I would have done a fix and flip or bought another rental but none of those tools "fit" my situation and this was something I thought I would be the best at.

For stocks, a very efficient market that is highly liquid, that increased value might be shown the next day, but real estate is not as an efficient market, it takes months to validate price changes, it is also not a liquid asset as it takes time and expense to dispose of a property.As David mentioned, a hard money lender is not a credit lender as much as they are an asset based lender, they may make a loan based on what a value might be, but they will have other concerns as well and they don't provide long term financing.So, when you hear some ignorant guru investor type saying he just made $40,000 buying a property at a discount, understand they don't have a clue about recognizing valuations or market value concepts, we call that stuff puffing, exaggerations on the deal they just did because in reality, what ever they paid was most likely the true value.

If they leave any such items behind and its theirs, there is a small deduction for removal and disposal.

Dispose of all ashes, rubbish, garbage, and other waste to the designated collection areas and into receptacles.

I want the tenants to have every opportunity to dispose of the garbage without second guessing the costs. 

This deduction is related to the loss on disposal of certain assets in your building such as replacing or removing existing components of the building.

My current plan is to wait until/if the price of a condo/house is like a disposable toy to us, so the return will not matter.

I have plenty of credit at my disposal but I want to use it right.I have read many books and I watch at least 3 videos a day on youtube about real estate investing but even with all the education, I have still found a wall that I cannot get through at the moment.