Nothing lowers the property value more than environmental cleanup and advertising it is not going to help.Just my 2 cents.

What you need to do now is set screening standards and write them down (make sure they don't discriminate). your standards should include things such as credit score minimum, income requirements, occupancy maximums (you have a legal limit, but you can set a lower limit if desired), as well as some rules such as: no prior evictions, no felonies, etc.

A few old tenants which isn't bad but has some lower quality tenants with ugly ran down homes/trash.

Do the math again (make sure to shop around for a bank with lower fees) and see if there is a solution to increases the value of it in a short time, so you can refinance it later after get a new appraisal after  rehabe....No deal is batter than a bad deal which will stress you out and not worthy of the time and $.  

This may work in your market or it may need to be slightly higher or lower.   

It's lower risk and you will learn a lot more.

Extended vacancies, higher turnover, lower quality tenant pool, etc. 

Your VA loan will allow you to finance the entire purchase of the property with no money down, and will get you a lower rate than if you went with another loan product.

I was speaking with a multi-billion $ institutional investor's COO several weeks ago and they said when they went to Wall Street to raise money, every banker wanted to know how much of their portfolio was based in Atlanta...meaning, Wall Street knows that Atlanta is a very stable and quality location to own in and while return may be lower than other higher risk areas, it is a quality area and top of the bell curve in most return and risk respects. 

Lower Queen Anne is more artsy, new wave types.