The idea is go 50/50 on the down payment and any improvements to the property (likely kitchen and bath upgrades).

Your credit will improve over time, (I don't know the exact circumstances) and maybe it's better to wait a year to see where this all sorts out.....?

Do I subtract all improvements(costs) from the sale price.

Nor does it factor in your ability to force appreciation by improving operations and raising NOI.

@Jay Hinrichs Yes sir, we would never EVER have guessed that adding improvements and riding the Nashville market wave could lead to that final number.

My goal is to buy a home or townhome that needs a little lipstick and live in it while I do some cosmetic improvements and rent out the rooms I do not.

Obviously the goal is to maximize the refinance amount, so what are some improvements people like to make to increase the value of the home?

I'm an agent here as well - Responsive Finding good deals or helping them with number (comps)Not letting them buy a bad deal especially if they are newEducating them about how to structure your offer to make it most competitive/most investor friendly (rolling concessions into the loan to improve CoC Returns)

Interest rates are higher for retail and office, demand is lower for retail and office, tenant improvements are higher for retail and office, volatility is much higher in retail and, as of recently, office.My answer is yes, I do look at retail and office offerings too, but not only because of cap rate. 

If you got permits for anything they will reassess it again after they establish the sale price value with the improved value.