Is there any major improvements that you could have taken?

If this is, you likely will not be able to take out any equity to use to improve the property.

That will make this (or anything in the same price range) a much safer deal, generally.If it's been remodeled, why did you figure 3K for repairs - just miscellaneous improvements you'd want to make?

use those funds to improve credit worthiness, and finance more rehabs. 

Exterior capital improvements are complete, except for a laundry facility we are planning to add. 

Hard part is making sure you can improve/add to the existing property or a development is more ideal. 

I would work on getting more equity in the property either by doing improvements if there is room to increase the ARV or you could always save up for a conventional loan.

So the OZ alone shouldn't be the only thing driving the improvement of this area.  

So, we are looking for an efficient (energy-wise, because we pay all the utilities), safe, and relatively inexpensive.

Plan to rent it out after I move, looking for improvements to make to increase rental cash flow.