What are the main things appraisers look for when determining the value of a house?   

@Brant Garner typically I am pretty risk adverse my main concern is that I will be able to finance it conventionaly down the road and sell it to another investor.

I work mainly in Bucks County but consistently have clients in the city, and can get the job done.  

Ideally, I’d love to buy them instead of rent them to re-rent (I would be completely upfront with the owner about my intent.).

The main takeaway I have gained after reflecting on last summer is that 1) chasing money alone will not work in this business, and 2) that it cannot be done alone, instantly just like that, just after reading a few books or taking an online course.  

You will get a lot of well-intentioned advice on these forums, but they may or may not work for the type of transactions you have in mind. 

that was one of my main concern because I guess I didn't understand how title policy works in such case. now it makes sense. 

The main area of concern is how lines 20-26g on the 4797 don't seem to have any provision for the deferred gain that is the whole point of the exchange, so when filled out it seems to show the whole gain as taxable capital gains.  

There is no need to stress you will get your commission, I’m just afraid your intentions are a little bit misconstrued here.

I think the absolute necessary things are new flooring and paint inside and out, new light fixtures, some new interior doors (or just paint the old ones), new interior baseboard trim, 3 new exterior doors (change 2 sliders to French doors), siding installed on side of the house at least and maybe the back too, change out main front entrance door, new oven, rebuild the deck off master bedroom, and minor landscaping.