Quote from @V.G Jason: Real estate is inflation adjusted, but I'd argue it's now going to be valued with a scarcity premium going forward.

Avoid lipstick on the pig.Renovations like nice kitchens and bathrooms are great for rental properties, but it is not everything.A property that has been cosmetically renovated, but has no capital improvements is worse than one that has been very well-maintained, but might have older cosmetics.If I walk into a property and I see that the kitchens and bathrooms have been redone, but all the walls are plaster there's no grounding in the electrical and the plumbing has never been updated that I consider it a full gut.It's a shame to pay a premium because of a nice kitchen and bathroom only to find out that you have to rip it all apart.It is usually less expensive to do cosmetic rehab for rentals than capital improvements. 

You can get a premium price if they're stable and renovated and then go into a value-add. 

They checked, and the premium was less than $200 per year, which is affordable.

You can sign for premium podio ($24) + globifllow ($27).

Figured we could try to negotiate lot premiums, design incentives and closing cost incentives ourself. 

The following are some of the key documents that you should review with your attorney and accountant during your financial due diligence:(1)Tenant files, including leases, amendments, subleases, and any related documents(2)Service / maintenance agreements(3)Utility Bills(4)Tax Documents(5) Insurance policies and any pending claims(6)An accounting of all income and expenses related to the property, including rent rolls, tenant delinquencies, taxes, maintenance, security deposits, insurance premiums, management fees, security, budgeted capital improvements, etc.(7)A list of all personal property being conveyed with the real property(8)A list of all pending litigationAs mentioned above, the financial due diligence is key in determining whether the investment makes economic sense.

I suppose it's a matter of weighing options - looking at the potential increased cost of fixing/replacing a damaged roof at ACV verses paying a higher premium for an insurance policy that pays out replacement cost, and see which one makes more sense.

We are considering paying her a bit of premium.

If you wait it out the whole way, you might do ok, but I would never buy residential at a premium next to a gas station.