You'll want to know this going in, because you should have two different levels of finishes depending if it will be a rental, that you'll need to refresh between tenants, or if you're flipping it and want maximum appeal.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

Homes that appeal to our target tenant segment range from $350,000 to $475,000, so the supply of housing we target remains almost the same regardless of how many new homes are built.DemandPopulation growth drives housing demand and price and rent increases.

Typically a furnished rental will appeal to someone coming to live in an area for a short to mid term period of time.

You do the math.Plus all the the exterior projects: new siding, new roof, building out eave returns and soffit overhangs to fix the poor curb appeal, un-converting the attached garage, driveway, retaining walls, the detached garage, 144 truckloads of fill to create a front yard, landscaping... 

This can lead to better tenant relationships, local incentives, and an understanding of nuanced market dynamics that outsiders might miss.Conclusion:While secondary and tertiary markets might not have the same 'glitz and glam' appeal as primary ones, their potential for stable cash flows, significant appreciation, and strategic advantages can't be ignored.

Most of my projects are regular SFHs, so I make them appealing to the majority of the typical buyer pool.

Structuring a joint venture (JV) or equity partnership can make the deal appealing by offering a share of cash flow and appreciation. 

The sheet metal building will not be appealing to 90% of tenants that would want to go on the site if any did at all.

Downtown’s also a contender if you’re eyeing urban appeal.