Garner area around White Oak shopping center/Aversboro Rd is highly sought after areas though.

Other than that it is laminate counter tops, golden oak cabinets, brass fixtures, 4 inch white tile baths, you get the idea... 2001.Based on my research of comps on rentals.com it is very obvious that there is a line somewhere of diminishing returns when updating a rental, but I haven't been able to exactly pinpoint it yet.

But since I'm a buy and hold investor, and rents/rental demand were so much higher in Richmond for a just a little more money (and better commute to Oak/SF), I bought there.

Not a booming market like Royal Oak or Hazel Park but I'm hoping it'll appreciate well enough.

For instance for a VA or FHA loan the property has several requirements such as no chipping/flaking paint, hand railings on stairs etc.  

I have family that lives up near Oak Harbor, including a brother-in-law who works at the base so I am familiar with the area and know the housing market is hot. 

I always ensure there is no chipping/peeling paint and paint the entire house prior to renting.

You just have to chip away at it every day.

But I'd also add that you can benefit more from a MF if you pick the right location than an SF--more chips on the slot if you will--and the paydown starts to get significant, too. 

I had a buddy try and buy a condo in N Oak Cliff and he ended up finding out that something like 3/4ths of the units were owned by one person.