Any defects in the tax suit are between the prior taxpayer and the foreclosing tax authority. 

No special assessments or indications of anything  significant upcoming.Purchased in 2011 for $46k (foreclosure)Current value: $200k + (comparable units, in great condition - mine is NOT in great condition)Current mortgage: $27.5k @ $75/monthHOA: $323/monthInsurance: $34/monthProperty Taxes: $163/monthTotal Monthly expense: $595/month Rent: $900/monthTotal income: $305/monthI own two units in the complex, and plan to hold one of them long term for both the rental income and, potentially, a place for my son to live a few years from now (If you are familiar with the real estate market in the Seattle area, you know how hard it is for young people to find a reasonably priced place to live.

As a prior USAA insurance agent, I was appalled when I realized how the program worked. 

In our initial underwriting process we always call around to the various comps to compare vacancies and rental prices on the various unit sizes. 

Prior BRRRR's I've done have been with a partner to split costs and spread the work between us.

Many threads comparing options exist on BP.

Which I would run the MIRR on that decision to compare it apples to apples.Question is… am I thinking about the use of this $50,000 correctly?

When doing market comps all amenities are used to compare with the units.

Once you pull MLS data you will see that as well. 5th ward -- is a step forward where you can still buy raw land  and build and sell with early adopters who wants to be close to downtown ( a bit higher price compare to acre homes and without govt assistance) .

I can price the same kitchen with that much spread just with high end cabinets, stone and tile compared to Home Depot crap.