If it isn't you may want to change a/c so you have a matched coil and then you will be on 410A instead of R-22 for the Freon, r-22 while most of us guys like it better is being phased out.

Some open end security instruments are designed to explicitly be an open end loan so modification to those security instruments would need to take place in order to match terms up with a closed end note.  

Flat is much easier to match without having to repaint the entire room.  

If you are trying to compete with / against those units, you have to match up item for item at least as good.

@Taylor Shields   good thought on being able to match any offer to buy the note in the secondary market.WE had a substantial ( seven figure) LOC with a bank that got taken over and were able to step in and buy our own debt at a big discount...

But the agents that came out to take the listing just used our purchase price and added the $1,000 a year appreciation that was going on in Piedmont and that matched an article we had just read in the Oakland Tribune.

Check out the Norris Group they may be able to match you up to a nice note that would give you 8 to 12% and if they can't there will be plenty of other brokers in CA that Can.

I would suggest everyone to skim through the study and look at their respective markets to see if it matches with their own expectations.

Negative cash flow is the definition of "it doesn't work".3 - Look for the opportunities in that market.4 - Find your "exit strategies"...your buyers, tenants, etc...5 - Analyze properties that match your "exits"6 - Execute your business plan.

I would match the new look with hardening the property.