If this is a spec, that would be kitchen, baths (particularly master) and curb appeal. 

Also I've noticed that there is not many rentals listed in probably 10x10 block radius around this particular property which is located near downtown.

You can try it out for free for 7 days to see if I it's of any help for your particular case.

Any particular strategies?

Any particular programs like FHA?

This is a particularly loaded question I know.....I'm in the Chicago metro/urban markets btw so our situation is unique.

@Joe GoreUnless this has changed, the 203K loan is tied to the contractor and thus there would be a contract in place that stipulates the stages and amounts that would be paid out in intervals to this particular GC.

(These are pretty obvious lessons that have been repeated over and over again on BP, but I figure one more time probably can't hurt.)These particular tenants gave off warning signs from the beginning.

You will however, almost definitely need to provide a personal guaranty, particularly if it is done through a financial institution.

The rent-to-value rations here are completely out of whack.It would be very smart of you to do a 1031 exchange into other markets that generate better cash-on-cash returns.Nevada and Arizona used to be great markets, but less so today with the low inventory levels there and particularly the rapid and large price increases in those markets over the last 24 months.