I would use that 1,500 to build up reserves in that property until you have enough to feel comfortable to be able to cover any unanticipated expense, or cap/ex.

I am also a broker in CO but I am not familiar enough about their state laws to feel comfortable mentoring there.

Let the tenant pay whatever way is comfortable for them, the name of the game is getting paid. 

I am comfortable with the springing recourse triggers in most loan documents forms. 

We started with purchasing turn key suited homes, but due to market shifts and our comfort level we moved to building the same style homes as purpose built rentals….

The final test is maximally productive. 

@Joe Norman so I'm guessing it would be fair to say that, aside from not knowing actual rehab costs or ARV at the outset, it's really up to me going in to decide my own comfort level with leaving money in a project like this.

i need 3 or above to feel comfortable with my risk tolerance. 

Work on credit, capital, and learning 1-2 strategies that you are comfortable with to start. 

I do not believe that NOT having it ever hurt my resale, so would conclude that adding does not help it, unless you literally cannot keep the interior comfortable.