As soon as you get the swing of it then improve the property's performance and sell or keep it.

I'm not refinancing my two so she remains on the mortgage and jointly owns the properties.Currently our plan is to remain married for tax benefits and to allow for a better CGT allowance if she sells one of her properties in the next two years.

This consists of the purchase price plus whatever you invest into that property over the years(capital improvements).

What improvements are you going to make to it in order to flip something everyone has seen already for a profit? 

Literally all we needed here was paint and small improvements in the kitchens.

Each choice you make is a risk that you will not recoup the money spent, but there is also a risk that you will leave money on the table if you under improve.

This will usually be the unit that is paying the least amount of rent or needs the most improvement. 

Toledo is also now ranked the #2 city with the most improved parks in recent years, as the city government has been spending a lot of money to revitalize its parks.

I have two one beds in Class A Bk neighborhoods, and they have not been easy to rent out lately, yes the market is rapidly improving, but it could still take some time to get the units filled, so I would be hesitant to pursue a deal where the margins are so tight. 

Is the neighborhood improving?