Welcome to BP community @Justin Paradis  It is a great place to meet new friends and learn about various aspects of real estate and more.

Number of adults and children living in the house..as defined by law allowance. red flag .. this helps to keep repairs to a minimum6.

I don't have an issue with this aspect of the analysis.

Then for rentals, you would want some durability to go with affordability, so look up,  via the search function, the threads on how to harden a rental for ideas in that aspect. 

An online LLC is usually not worth anything, unless you follow all of the required formalities.One aspect of a separate entity that can provide a different kind of asset protection is possible tax liability.

Run the full cost analysis spreadsheet and define your goal.

You have come to the right place to learn about all aspects of real estate.

The less tangible aspect of the cosmetic changes, but in my view, most important, is how it will likely affect the change in tenancy.

I say could because you still need to research the other aspects of the neighborhood and future potential.  

Great way to meet people from all aspects of the real estate market.