I can see with my own eyes certain areas improving, demographics shifting, and speculate with confidence when it comes to value-adds.

Also, does cost basis change every year for improvements or added only when the property is sold?

Some took longer than others to turn profitable, but each has taught me something that I've used to improve my business.

It should never remain static; always look for ways to improve.

Always trying to do a little more to provide for my family and improve the community.

I'd likely over improve to target the higher-end tenants.

Improving your credit will definitely extend and enhance your investing gameplay (Rule #3)So...Rather than borrowing hard money to BRRRR your way into a deal, why not get those three really good deals under contract and wholesale them for cash?

While I was only 16 at that time with absolutely no market knowledge, my gut tells me that he significantly overpaid for it because things have only improved in the area, and market rents have not declined since that time either.

My understanding is that GENERALLY (I think there are other situations) I am only allowed to deduct interest if the proceeds are used to make improvements on the original property and cannot deduct the entire amount until the improvement are actually made.  

Yep, sold out of all kinds of masks at the home improvement stores here too.