So, we're keeping our eyes open for our original criteria but also know acknowledge that sometimes it makes sense to upgrade especially when everyone else is looking for what you were originally looking for. 

He has a very good eye for what can be done with a property to significantly increase value and cash flow.

These are two peas from the same pod.

People say there is more risk which is true but you still make people sign agreements with very strict rules, take deposits or buy insurance, plus you are there on site so you can keep a better eye out, and the amount you can charge for a fully furnished vacation rental will cover vacancies, and turnover cost are generally low.

And if you want to watch them roll their eyes, and never talk to you again, ask them if they'll wait until when and if you sell your rehab, to get paid.

In the eye's of the Assessor, a recent arms length transaction for a residential deal is the best evidence of value.  

Keep an eye on her property and take regular pictures to identify what is on her property in the event it migrates to yours in the future.

Structural improvements (opening up entry-ways, increasing bathrooms size, etc.)This strategy works for me, but I have a construction background, so I know what improvements are possible and what improvements I will make before making an offer, and I'm able to either do the work myself or keep a knowing eye on any contractors who might try to cut corners.  

You can filter to the PM who you want to not-renue and who you what to renew as well as keep an eye on the property..

My advice would be to keep an eye on the block at various times of day and talk to some of the neighbors see if you can get some insight like that.