However, buying at the right price after identifying areas to increase the value, can result in higher yields.Value add components of a property deal can include renovations, repairs, building reconfiguration, additions, subdivisions, vacancy lease ups, assemblage of other properties, zone changes, debt restructuring to name a few.

Question; are you able to expand on the liability component?

The problem with looking at Case-Shiller as a stand alone valuation of housing is that it only measures one component of RE as an investment- value.

I could be wrong on this, but to my understanding if the work does not affect the square footage of the house nor the structural components, and is simply replacing a "like-for-like" type product (swapping out an old light fixture for a new one, but the are on the same circuit and panel,  permits would not be required. 

So score seems to come back up rather quickly (assuming no other detrimental impacts).In short: any loan you are getting that is processed via a financial institution (i.e. not via a private lender who doesn't pull your credit) will impact your score one way or another.

Agreed, I definitely don't want to lose them, but my location is growing, and I also know they wouldn't reach out to me to have them increase their rent when they add more equipment, in a neighborhood I know is growing.Can you tell me more about that Cap Rate component?

I'll have to understand more what the state of existing components are for this house in order to estimate this.  

To add to my response above to Bob, and just for completeness, let me add that I can be convinced that any product that includes a service component shouldn't necessarily offer a full refund.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

I might not use a property that sold last year because its way too old for a comp. One