You make your money when you buy, whether it be a foreclosure or new mls listing, in excelkent shape or a real dog...you need to know what its ARV is or what it will likely rent for and buy with that and regab costs in the equation.

There are multiple factors when predicting where house price movements will trend, but a stronger economy (which is the driving force to end easy money policies anyway) may have a stronger impact on the housing market than the interest rate factor.With more money in the pockets of an average household, there might be enough demand in the housing market to offset the rising cost of leverage.

@Chris FarrugiaThe roof is a maintenance item, and is expected to be in good shape.  

They will be able to give you professional insight to your "farm" and be there if you want to bounce a question about what class finishes you should use, or what trends they are seeing buyers like.

My opinion only, with the trends that I have read about so far.

Read the trending posts on property managers and getting a bad value for the money...it will be 3x as bad for a rehab.

One of the units was recently renovated, the other isn't in much worse shape based on the pics.

I keep a spreadsheet detailing current HUD trends that I have spent 1000s of hours on over the years.  

Asbestos shingles in good shape.

About two months ago I got them to leave and they left the property in pretty good shape.