I've heard that baths and kitchens are positive, and you tend to lose money on basements, but are there any other aspects or additions that can add value to the final appraisal?

Wait out a few more auction cycles, but risk losing it?  

Then once you've managed the asset successfully for a year, you're a player and can get a commercial loan much easier.

Learn the system, know the players, get your name on all the auction companies mailing list.We do NO foreclosures, only owner ordered and investor's properties.Good luck ------ Charles

Does your agreement require your friend to write a check if this project loses money?

Then I got lucky to marry someone like minded (and I recall the Millionaire Next Door (great book) also found that having a good "defense" or saving money was a key, common theme of the high net worth accumulators of wealth in the US)...Back to the question, I saved some money, but then I did not just bury it in the back yard (where you actually lose money due to inflation, or even put it in a savings account which also loses money relative to inflation), but I read Peter Lynch, Warren Buffett, John Bogle and put what little I saved (and we saved post marriage) into quality stocks and index funds...

NO agent in their right mind would give this out.. they could lose thier RE licensee plus in our market its a 20k fine.RE license is basically easy to get if you can't study and pass the test then you have bigger issues.. and if you can't afford the 1k or so a year to maintain it .. then this is probably not the industry for that person as well.Poor advice to have someone just give out their MLS code

Tell the remaining tenant that you will return the deposit minus whatever you lose while the unit is vacant. 

@Josh McCullough  - here's a couple of questions to consider.You said that the CB brokerage in your town is "large" - does that mean that its large enough that its the biggest player in that market?  

In which case, isn't it false economy for them to consider a wholesale Offer from you vs the "profit" that they are scared of losing once listed?