@Huimin ZhangMarket is not going to improve that much for the loss you are incurring today.

I’m looking to buy a home in August and have been improving my credit score for a while now.

If your wanting to Leverage your money, play Monopoly, Hold these properties for a few years until the equity and your down payment matches that down payment needed for a bigger investment you know single family home exchange for a duplex or quad, then hold these for a few more years improve your position on them and then once your equity matches that of an even bigger investment exchange them into a 20 unit etc.. rinse and repeat.

This will increase your confidence and make you seem very professional.

You might be able to increas rents by 3x$50 (you live in #4); improvements have to be funded out of the value increase.

If I decide to purchase the property, I would remove the tree to open up the backyard and lay out flagstone in the backyard and improve its overall appearance. 

As you probably know, mid city has come a long way and continues to improve.

Re-run your numbers and make sure you're darn confident in the ARV and rent.

To answer your questions1) I think that with the area especially near the local medical school and looking at comps in the area another 10% with minor improvements (Paint, minor bathroom/kitchen changes)2) Great question I did the 70% rule minus rehab for that price.

I do have the owners name and pay for a skiptracer to make it possible to find their contact info and have enough confidence in myself that I can cold call them weekly or monthly as my main means of marketing.