If a renter fails to dot their I's and cross their T's when inspecting the information provided, take it as a lesson learned and get out of the situation as quickly as you can. 

I usually get loan from private lenders with 8% interest and it was quick and easy. 

That's really nice for diversifying a portfolio quickly.

thanks@Christopher Phillips it’s a smaller hard money portfolio lender so they actually got back to us fairly quickly and seem to have a pretty good grasp on the actual properties.

Thanks @Logan Allec for the quick response.

It's a pretty quick video that shows how to do very simple analysis.https://www.youtube.com/watch?

There is of course the other benefit of quick turnover if necessary as vacancy costs for these improvements would not be incurred.I was going to split the difference and perhaps target the bathroom for now and the kitchenette later.Any suggestions or other things to consider? 

I decided at the time that I wouldn't pursue it as I convinced myself it was risky in case the neighborhood turns for the worse.Well, the property I purchased ended up renting very quickly and for $200 above the projected rent and the property next door just dropped in price, so it's looking attractive again.I'm hoping BP can convince me one way or the other. 

A quick google search looked like Indy might have a grant program as well.

If it cashflows you will get your money back pretty quick.