I am thinking conservatively that we will be able to save up a small amount of cash every year for REI since we intend to save for future renovations on our own home, vacations, and kids =D.  

Detached house being renovated at this time.

I will fund the renovation.

My husband and I are in the final stages of renovating a home in San Marcos, Tx.

If there was no renovation to the stairs, then they don't have to be brought up to current codes.

Should I upgraded from oil to gas, and renovated before put on the market?  

I understand the appreciation part of it unless you have other source of income to support it ,what will happen if something wrong goes and the appreciation you will only receive when you sell the property and also no vacancy means ,you are going to rent it and forget it for ever and never rent it again which is not true ,you might have to do some renovations ,clean it after somebody leaves and the tenants do not always tell you that they are moving out.

If you get to be interested in Florida, please add me to your contacts.I work with investors, finding great deals and also am responsible for the renovation of the properties.Thanks!!

Do you have any knowledge in renovation?

When I started with computers we used magnetic cards, tapes and a green monochrome monitors.When I left the U of M soon after I met my wife in Detroit in 1988 was torn between pursing a career building and selling computers or going into home renovation where I had to most experience—I chose starting a home investment and renovation company.