Marshall,If you do plan on leasing to the new business (craft & tanning), you should check with your Insurance agent to see if that will still be eligible for your current coverage. 

There's a variety of ways to get a deal in front of you (I'm mostly a flipper), but basically if it looks promising, I run custom comps queries and check the current & past $/sf of renovated/distressed product in that city or zipcode.Here's a chart on 90066 I generated from my tool under Market Stats > Sales Data > Specific Zip Code:- My above chart (more available) shows the Avg Renovated $/sf (High) over time in this Zip Code, something completely different than charts/providers based on Averages/Medians only, like every other platform (RedFin Below, https://www.redfin.com/news/data-center/):- Can't select smaller locations such as City or Zipcode for their $/sf data, so it's useless helping me underwrite/verify a deal.- Can set Zip Code for Median Sale Price data, but again it's the median/avg so it's useless helping me underwrite/verify a deal.Then if that looks decent, I'll run Sales Comps, and get a quick summary of some key metrics based on those comps.

Check out the NARPM website: https://www.narpm.org/Happy to help you navigate through the NARPM website if needed.

Would anyone be willing to check out the place (apart from a formal inspection)?

I think we are headed to the Dallas/Fort Worth area for our first home.

A consistent, own time tenant is a valuable thing and worth accommodating most of the time and a goof landlord or property management firm knows how to walk that line.

Is it worth it when a p/t painter  will do the same for S10,000 using Sherwin Williams paint? 

This may take some time but it will be worth it in the end.

That may be worth looking into. 

It also is worth approximately $140k more than my property is currently worth.My question: when evaluating renovations, is the math as simple as (Additional rent expected per month due to renovation * 12 months/yr)/total cost of renovation = ROI.