I caught my break because of my prior experience in real estate as an agent, as a NASD Registered Representative  (predates FINRA) and insurance rep, anti-fraud background as a manager at UPS and a landscape contractor.  

My property management business which does everything from managing my own properties to, lawn care, landscaping, small renos etc for other clients has been up and running for only 5 months and I have generated about $30,000 in gross active income.

I would make the building stand out with lighting, facade and landscaping.  

I have a duplex in Los Angeles and i split the cost of the landscape fee among the two tenants.  

Bob is also likely going to jail if/when it comes to light that there was an outstanding obligation on the property, because failing to disclose is fraud. 

I also add on some exterior or landscape maint, and some misc expenses that always seem to show up, like needing a new stove, fridge, HVAC repair, etc. etc. etc....

Light to moderate smoke damage to walls/ceilings can many times be sealed over and painted, but of course it all depends on the extent of it and the amount of time and condition of the environment since the fire.  

Clean up exterior, freshin up exterior paint, put ownings on, do easy maintenance landscaping, add a coin operated laundry for additional $100 per month at $1.50 for washer and dryer each, increase rents in between tenants or at anniversary dates. 

I'm sure that some of the comps that they pull will have old 16 year original materials, fixtures, flooring, paint, plumbing, lighting, etc.

I was fortunate enough to us the VA loan and bought at the bottom of the market, made some improvements (out of pocket) to include new appliances, landscaping and painting (interior and exterior).