I'll shoot those interested in this a message in early November.I'll also try to get some pictures/updates along the way since I had intended to do this last time.

On my end - I've heard that some of the easiest (and potentially cheapest) tricks could be:- applying a fresh coat of paint on the exterior / interior living room spaces of the home- refurnishing doors / door knobs - updating the lighting of bathrooms or kitchen area light fixtures- bathroom refurbishment- curb appeal / clearing out excess weeds/trees/shrubbery.I've also heard of situations where the home owner would either offer to build, or provide a backyard shed for the tenant as additional storage space, charging an extra $100-$150 per month if the tenant wanted to use it. 

Over the last year, I have updated the interior and I now have a great tenant in the other half paying me $800/mo and I believe I can get $850 for my side when I move out. 

When you are buying a rental that needs updating, you want to make sure you don't over improve it. 

The main things you need to find out are was the plumbing done and has the electrical been updated? 

Right now they’re behind on updating it though, so it may have been inspected and I just can’t see it yet.

Put 0-3% cash down, put some money aside for closing, inspection, and minor updates.

They pay an atty to regularly review and update the leases for the jurisdiction.You can buy them for a minimal amount, well worth the cost.

He's working with an agent who wants him to provide monthly rent range he'd be willing to pay.What would a 2/2.5 updated townhome (1600 sq ft.) rent for in Knox?

There will likely be more than just the $12k in commissions due at closing - Safe to assume some seller closing credits, updating the abstract, etc., and don;t forget about Income Taxes on the flip at the end of the year!