Will try and price it for average sized rooms.

They would have a vested interest in making the value of the property increase, and it sounds like there is room for it. 

You're building in a LOT of room for yourself, which is fine, but it's gives competitors a lot of room to outbid you. whether or not investors would be interested is something you have to ask investors in your area.

I have a 2 bedroom (3 story) condo that is needing new flooring in the living room area. 

Meanwhile, we’ll also be renovating the home we purchased to live in room-by-room to slowly increase the value of the property so that when it’s time to upgrade, we can sell and still make a profit on that same home.

If nothing else hopefully you can break even for now and in the grand scheme of things the tenants will pay it off for you and in 15-20 years you will have significant equity and a good cash flowing asset that will help you retire.

There was more than enough room in the numbers to take a 15 year loan on it as well while still getting solid cash flow.

I’ve read that most if not all banks won’t do a loan on a property below 50 grand.

After a thorough cleaning, I replaced all carpets; painted several rooms with modern colors & touched up the others; upgraded a few fixtures; and, made several small but impactful cosmetic improvements.What was the outcome?

So there should be some additional room for value increases.