Lets add in the improvements.....Adding $10k per unit would be $30k and your return on investment for the improvements made will most likely be too low for it to make financial sense.

You can get my contact info from my profile.

I have been hesitant to rent out my current home because we've spent the last 5 years remodeling and improving the home to such a degree that, with it being in "move-in ready condition", I would be worried about how renters would take care of it from here on out. 

Turns out she didn't completely chase me off with a shotgun or anything, but she did tell me that if her situation doesn't improve, she'll definitely be calling me to discuss more details.

Also, I'd be happy to point you in the right direction for things to think about and consider as you make a decision regarding your next steps.Please check out my profile and reach out if you think I might be able to help you.

But probably not if you don't think it would improve the property.

I have taken great strides in improving my credit recently, and have also looked into what it will cost to start up a LLC.

Keep a good part of your focus on the rent you can achieve with the improvements you're making.

I would do it as long as the income is right and stable and she seems like she wants to improve , maybe a additional deposit 

I prefer to buy when unemployment is high, and just ready to improve.