This puts your PITI (Principal/Interest, Taxes, Insurance) at $599.28 + 337.50 + 66.67 = $1,003.45/month.I am assuming you are using the tax number from when the lot was a vacant lot with no improvement on it.

More technically what we do is this: The initial rent rate when we purchased / whatever the purchase price + and capital improvements needed (if any) to make it 'rent ready' = our "multiplier number" at time of purchase. 

Once my properties are stabilized this way, I begin to look at additional ways I can improve my property or limit my costs in order to increase revenue.

It's kind of cool as I get to see accounting in real life.In regards to your questions l, the IRS issued new regulations about capitalization of assets, and capitalization falls into four categories, Betterment, Improvement, Adaptation or Restoration.

Asset is an average performer, not much to improve. better use of your time to start thinking about how to buy the next one better.

I can provide insight into the best practices for a smooth and efficient project. 

I have a duplex I am selling that has low cashflow and a ton of equity. The rising property value has increased the taxes to the point where it is eating a lot of my cashflow. I cannot sell it as-is to a conventional ...

I hope BP improves the iPhone app soon.

.- You are rich with time, ambition, and energy.** Focus on the latter. 

I find that a very common hurdle that beginners have is assuming what a lender will or wont do. you said "I don't even think I would qualify for a loan of 100K" which may or may not be true, but you don't KNOW. what you really want to do is ask a lender what it takes to get that loan, rather than assume you can't get it and then blindly try to improve what you think they need. does this make sense?