One property may have a 3% rent growth while another has 10% rent growth because the renovations during unit turns are vastly superior.

They are also in the middle of renovations from the previous buyers.

The regional has had multimillion dollar renovations, which have been very successful in drawing new people to the area.

There are a variety of different ways to do this; whether that be pursuing properties in need of extensive renovation and likely requiring cash to close, targeting properties with certain zoning that allows you to split the lot/add additional structures,  etc. 

If you are looking for appreciation of your asset then maybe its worth looking at the nicer area, just be sure that you don't over renovate.

I'm looking to renovate an old house on a piece of property I own in Stafford County, Virginia. 

The owners have already moved 10 hours away but did not finish some cosmetic renovations to the home prior to moving out. 

You can certainly buy at that price or well below, but by the time you do renovations you are going to be above those prices.You can find tenants for $30K houses but they will tend to be market tenants that can't afford anything more.

Hi all, I've got a house I'm renovating in the Glendale/Pasadena area and I'm overwhelmed since there's a lot to do and I live quite far from the house (about 2 hours away).  

We mostly use it to build renovation budgets.