Complete your profile so that those offering advice can be more specific.Varski Properties has rented to Section 8 since 1993.

I've listed them in my profile but, being new here, I am not yet comfortable publicly posting the financials.

Holding costs get deducted....improvements get added to basis.

You have to find another source-either a distressed property, something you can improve and up the value to another level, or perhaps develop relationships with brokers and wholesalers who will bring a deal to you because they know you as someone who has the ability to close.

Hoping to find out from the community if my numbers are off, how can I improve where I get the numbers to refine my number crunching process in the future. 

If the converted property is later sold at a gain, the basis in the converted property is the original cost plus amounts paid for capital improvements, less any depreciation taken.

I assume that by next week at the latest they will have begun working on improving her personal credit.

If so, I see it as an area that will improve in desirability, growth and value.  

Nonetheless, I challenge you to think about a plan for acquisition, for improvement, and for dispossession.  

Or, perhaps it is one of those sought after situations where you can spend 150k over 20 units and raise the rent based on the improvements, and perhaps pull out you equity for the next deal.