If the properties are managed by a third party management company, 90% of the income / expenses should be summarized by the PM Company.You should be able to get a year to date statement providing you a summary. 

However, if the property is tenant-occupied, accessing it for renovations might prove difficult.If your intention is to purchase a distressed property for value addition, I would caution against acquiring properties with existing tenants, as this can pose challenges in the renovation process.

@Annwar ZahriehIn addition to some very good advice @Patrick Drury gave.

The auditor has some info, too.As for ARV, I am looking at comps from CMAs that brokers and agents provide in addition to the websites everyone uses.Having a crew ready to work (and a lawyer, and a good title co.) seems prudent.

In addition, we're on I-85 corridor, so there's a lot of logistics, transportation, warehousing and so forth.

My current rental is a 3 bed 2 bath with an additional office room( donot have a closet) 1950 sq ft.

If someone does not need the income coming in from rentals because they have other sources of income, they might be more able and willing to wait to get a larger return from appreciation.

I would recommend buying your first home, either single family or a duplex and house hacking so you can collect rental income and have renters help you pay down your mortgage. 

I returned the $2,000 to my friend with an additional $200.

Think diversified income, ability to market effectively, no risk of OTA algorithm changes that have negative impacts, etc