I had a quote of 2.64% for a 4 year term on my principal residence in Canada just today.The US starts around 4% but then you have to add 30 to 40% for the exchange if I use Canadian money for the payments.So, ideally I need to borrow as much as possible for my deals and pay it off as the dollar improves. 

You cannot depreciate any improvments on the property.  

Alternatively, I believe I can sell the condo and break even in five years, due to improvements in the neighborhood and paying down the principal during that time.  

Even after spending 15k on repairs and improvements my total debt on the property is only 40% of the ARV. 

I know most of you would tell me I should be pre qualifying leads before actually wasting my time to go to the property, but I wanted the experience of walking through houses, learning to build rapport and improve my sales skills.

Although I am not completely opposed to renovation I am looking for something a bit more turnkey which I can add value to through non structural improvements.

Then analyze potential areas of improvement after the dust clears.

We are aware of the permits, utilities, and drawings and such that needs to be done to make this happen and the approximate cost to make these improvements.  

I'd be willing to consider coverage for the improvements as they exist and not necessarily the replacement costs. 

We have spent so much time and effort improving this building and I hate to lose all that we have gained in the past several years to this person.