I agree with Michael that your main goal should be to determine if the property can generate a good positive cashflow after running the numbers and taking into account any cap X costs that may be coming up such as a new roof or hot water tank.

The property clearly needs some work done, roof & windows being the main two, but we know going in that we would have 20-25k to but into the building without feeling like we bought into a mistake deal. 

Maybe you could find a 200-300 from the budget and paint just the main spaces in the house also.

I'm mainly looking for cashflow,loan paydown,tax benefits,rather than appreciation.

The extender is located 30-40 feet from the main access point, and I think it almost has a line of sight.

Price should be in the $1,500-$2,500 range for the main service change.

My main focus right now is training and development. 

Is there one main employer in the region?

I haven’t made any moves yet well mainly because I’m from a small town and don’t know how to get started. 

Once you determine the current condition and life expectancy of all major components and appliances you can adjust the CapEx reserves requirement.What are you including in the $200 Misc?