Make the commitment to improve, and stick to it. 

Great improved income 25% Lessons learned?

Shoot the tenants that don't meet your income guidelines, even though the rent is paid.If you have a rent increase planned, coupled with a Value Improving renovation, you may have to get new tenants.

The amenities continue to improve and there are still several massive public/private initiatives in the works like the Hostess block and the East-Central plan. 

Improving the neighborhood, as well!

If the existing loan/appraisal was done no more than 6 months ago, the appraised value can't be higher than what that original appraisal was...even if you improved it.

With a few improvements they could certainly raise the rents to market value and my step-dad could handle most of the maintenance and upgrades.  

Don't use your new income to improve your lifestyle with new clothes, a car, renovating your own home, etc.

It’s not like they do Improvements to your property, with proper authorization.  

It has overall been a good experience as they were there for some years and have been pretty grateful with a new owner whom is looking to improve the home and has more modern ways of communication/rent with cozy.