The paperwork is redic, but the golden rule states that "she who has the gold makes the rules," and her name is Fannie Mae, and she's got that gov't subsidized 30YF interest rate that you find appealing.

Appreciation is gravy and you will get that with improved operations and increasing the income.

Sweet, I knew 70% was a basic rule of thumb.

The more you renovate, the more you might improve the value far beyond your cost.

FB is still worth it just a lot of bad applicants you can rule out right away.

The good news is that events like this are fairly strongly correlated with mortgage interest rate improvements. 

Profit has to be made in order for those products and services to continually be offered, improved and consumed. 

Have you thought of living in it immediately while you improve it (to either rent at market rate or to resell)?

Obviously, it's too late for this circumstance, but I'm always looking for ways to improve my lease and business.

Even if you have to delay your career for family, improving you capital position is never a waste of time.