There is no given answer here, because the whole property needs to be relatively consistent.Kitchens and baths are the common answer, but if they are passable and you choose to invest in them anyways at the expense of peeling paint (or off putting exterior color) and overgrown landscaping, the appraiser and tenant will be walking up with a bad taste in their mouth, thereby not valuing the interior work you have done.But think about the general flow of someone looking to rent: more bedrooms will typically dictate more rent.  

-therefore, there won't be any net 'cash flow to cover rent' for years.to be clear, i say this not to say "don't invest out of state." investing out of state is fine. 

Part of it is due to a personal family issue, but part of it is due to the high prices and rates.

Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.

Quote from @Lauren Cartmell: Hi everyone - I have a fully occupied duplex that I am looking to sell in the heart of Dallas, Texas.

We have 3-5 per year that move out in the "middle of the night".

Consensus of the feedback was cute in pictures horrible in person.

In many of the C-class neighborhoods, rental rates are exceeding the expenses for investors.As of April 2024, the median price of a home in Ohio was $238,700, which is a 4.7% increase from April 2023.

I would be leery in doing it out of state and with it being your first one.

Quote from @Miki Jovanovikj: Hello BP community, does anyone have a good referral for a foreclosure attorney in state of Florida due to a buyer defaulting on the payments.