Even though I am new to this industry, I work full time in Event Operations, so I have skills in creating and implementing systems to improve efficiency and repeatability, and working in an urgent and time sensitive environment with strict and important deadlines.  

Some windows need replacement as well and will have an improved thermal rating than the ones from god knows when in the last century.Due to the renovations opening up space to make an HVAC installation more seamless, I have the possibility of taking that approach if the boiler is likely to crap out within the next several years. 

Drop All REAL ESTATE apps/software you use to improve your business.

Time, as your accounts age and you maintain a good credit history of payments and debt ratio it will improve.

I have seen some banks make exceptions to that if the property has had long term tenants and there are not major improvements/reno needed (i.e. turnkey). 

You just need the improved NOI/Cap Rate.

If you are expecting to cashflow improvements or other major expenses it has to be taken into account. 

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.