That coupled with the influx of out-of-state people moving to Miami and trying to rent as well has fueled low inventory and higher rental prices. 

Due to the low inventory it allows the conversation to be had to get a rent back for free (I have had clients do that just recently, only had a $1,500 security deposit for a $1.2M house), or renting back at the PITI for the new buyers. 

Combined with low interest rates (anything under 5%) that means affordability will further improve.

They are inexpensive and sold at most home improvement stores.  

Those cost haven't been outrageous.. maybe $1,100 over the course oy my ownership, and all of the improvement have added to the quality of the community and increased property values.

Instead, your profits are considered active ordinary income since its the sale of inventory, not investment property. 

Most will have a baseline cashflow as the asset improvements take shape.

In todays market I think people will overpay for the property in as-is condition as inventory and rates are both so low right now. 

I am new into the Massachusetts market, I live in the Norfolk county area and looking for rental real estate properties.What towns in the area have good inventory of rent suitable properties that will be easy to find tenants?

Can he file a quit claim deed to add me to his title and then I apply for a HELOC on the PA property so we can make improvements and buy an investment property?