So it may be better, for the good of your reputation and potential long term relationship with this agent, to approach them with that in mind. 

Also don't be shy about approaching regular flooring companies.

For a studio vacancy that came up in September, I rented to an immigrant family of 3 with good credit but marginal income who is downsizing so their daughter can attend college rather a single professional.Not sure this is the optimal approach for me, but it's the best I've considered so far.

Would you approach it differently than what I've outlined above.  

For example, if it increases cash flow enough to pay for itself over 5 years, and the market CAP is 10%, it will, by definition, increase the value of the property (from a strictly income approach appraisal perspective) by double the cost of the improvement.

For the 1-4 unit non commercial properties will appraisers typically use the income approach? 

I want to use it to learn the Real Estate industry in a personal approach.

Always curious about real estate and how other investors approach problems I'm happy to find this community.

Shanaa,How do you compare you confidence and competent level approaching things that is new.That's where you begin once you find the real answer your on your way to mastering your real estate investment goals.No doubt you'll do find!!

Sometimes gotta get the emotion out of it and approach it from a loss cutting position, and you're all absolutely right.