Usually smaller areas have lower crime rates.

I've read several BP threads on Trenton that are a year or more old and a few were very negative.

Also, your credit history, the claim history of that property, your own credit history could potentially negatively affect the rates (also could be positive factors).  

Refinancing could be an option, but I don't want to end up in a position where the increase in P&I payments would negate any Rental NOI.

Not to mention that the ugliest part of "bad" flooring is usually the seam where the tile floor meets the wood/laminate floor.  

Or do you usually fix up the property and pull out equity then pay them that back?

That's all of Dec, All of Nov.. so I usually give notices out on the 15th of the month, so by Oct 15th let him know....

I just barely break even and probably make about $50 a month or so on this rental but it is not a negative cash flow property.

That can and usually does backfire on you.

At 8% that takes $112 per month off your cash flow for a negative $2 in cash flow.Captured EquityIf the house is really worth $190K and you can buy it for $165K with a $40K down payment, then you have a 62% equity gain from the start.Given the above scenarios, this doesn't look like a cash flow play.