But your price point will be the determining factor.

Only your mortgage and the rental income will be factored into your DTI.

@Jose Valdez this may sound broad, but study every factor/variable that may have an effect on your investment strategy and specific target market.

I've known about Bigger Pockets for years, but real estate investing never appealed to me for a variety of factors; therefore I never made an account.

In addition, you will have to calculate repair/renovation estimates so that you can factor it into your offer. 

For me, the harsh experience of buying too high and taking a loss has been the main factor in reducing FOMO.

Of course there are a few more factors at play on the lending side, happy to get into some more specifics if you have any questions. 

What upgrades brings a higher appraisal (I know there are other factors like comps).This is for a BRRRR property that's rented but recently acquired and still had halogen bulbs and brass fixtures, just to give an example.

Or if not, how does that factor into the agreement?

@Preston Gealy really depends on many factors, the flip I'm doing now the basment never flooded however is always damp.