It's based on the purchase price and will not include any improvements, reno, or increase in value since the purchase.

Value adds were a combination of market value increases, rentability increases, strategic maintenance and improvements during lease cycles, and property management.

The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).

Air filter also in crawlspace inconvenient for tenants to change. 

If you told him you have been playing pickup games for the past year and need help improving your jump shot, now he has evidence you're motivated and a specific goal he can quickly help you work towards.

Before renting, I need to complete a few improvements to the townhome, such as landscaping and replacing the flooring in the bedrooms.I have a few questions and would appreciate any advice: What should I look out for during the home inspection and closing process on a new-build property?

Real estate is a long term wealth building strategy and in that one year you can learn a lot about home improvement and land lording. 

Are you seeing any emerging trends or opportunities tied to these lifestyle improvements, such as increased demand for certain property types or neighborhoods?

Small improvements or updates can justify slightly higher rents too.

Doing a BRRRR that you plan on turning into an air bnb would not be the best as a beginner out of state.