Otherwise, if some combination of SF can't be worked out I suggest you say, "nice place" and keep moving on. :)

I'm not totally familiar with the area, but it seems that those who want chic and modern would gravitate toward the Coal Harbour side and that those who want to live in English Bay would be looking more for rustic and traditional.

The cost wast to great to replace and bring them up to modern code.  

We are combining the 2 downstairs bedrooms to add a master bath and closet. 

Modern gas stoves and fireplace inserts are sealed (airtight) with respect to the living space (room) and vent their combustion air from outside - typically a separate pipe through the side of the building or a centre pipe within the exhaust flue (either through the side of the building or as a sleeve in an existing chimney.The cheapest way to stop air and heat from being drawn up your chimney is to decommission your fireplace; stuff insulation in the top of the firebox against the closed damper; then tape a sheet of 6mil poly (vapour barrier) under the insulation being certain to create a seal with the sides of the firebox all the way around the perimeter of the barrier.Since you still want to use your fireplace periodically, but do not wish to incur the expense of installing an airtight insert, you could still attempt to plug the top of the firebox when you are not using the fireplace.  

I think you may be suffering from a combination of analysis paralysis and shiny object syndrome.  :-)Seriously, slow down a bit.  

Columbus has a good, modern economy and affordable home prices.

Modern traders may executed multiple orders per second using API technology and hence they are probably paying more than investors 50 years ago.

It won't increase the rent by itself but it probably increases how rentable the property is and if you eventually combine with other upgrades could help the rent.

Originally posted by Bill Gulley: First I suggest you absolutely not put RE in a C corporation you should be using an LLC with a "S Corp" or "Partnership" unless you really love paying taxes.That is not universally true.A C corporation can retain earnings, a pass through entity cannot.There are lots of scenarios and situations where the combined tax rate using a C corp is lower than the marginal rate offered by a pass through.The bottom line is each situation is different and not all problems are nails just because you know how to use a hammer.