@Andy D.yes have tenants send you pictures of their utility bills- if you explain to them the purpose of why you are having MassSave come by and its helpful to them since they bring in LED lights, which will last and not burn out quickly 

Many threads comparing options exist on BP.

Which I would run the MIRR on that decision to compare it apples to apples.Question is… am I thinking about the use of this $50,000 correctly?

When doing market comps all amenities are used to compare with the units.

Once you pull MLS data you will see that as well. 5th ward -- is a step forward where you can still buy raw land  and build and sell with early adopters who wants to be close to downtown ( a bit higher price compare to acre homes and without govt assistance) .

I assume you all recommend having that amount for rental purposes as well?

I can price the same kitchen with that much spread just with high end cabinets, stone and tile compared to Home Depot crap.

Without knowing your goals, I assume you're looking to keep costs down for profit margin purposes.

My house should have a retail value of about $390K, has a tax assessed value of $364K, and other comparable homes in the area are selling in the $350+ range, and mine is on a double lot (2 acres).

I wrote the above for informational purposes.