Dead equity also attracts lawsuite vultures.

As for why I was willing to go through the trouble of a short sale is because the deal is so attractive.

Take a breath...

One of our strategies to attract the best S8 tenants out there is to rehab our properties to be one of the nicest in the neighborhood and it works very well.Like @Patti Robertson said, most S8 inspectors won't let you have awful properties. 

If you had a buyer that would want to go vertical, but the property had a land lease set for lets say 5 years, I would think that would not attract buyers. 

It will make the property much more attractive to the tenant if there is gas heating.

I don't have a problem spending a bit extra on nice porcelain tiles and stylish looking finishes if I know it means I will attract more of a 'higher classed' tenant, and giving me a higher rental return.My renovation will take a month and I plan on:-Gutting out the flat, removing the carpets and parquet flooring Knocking down the wall between the kitchen and the lounge Installing new kitchen cabinets with a stunning island, AND A BUTLER SINK!

Can pay more if the deal is attractive. 

Plus you have to attract capital, which is easier said than done.  

I don't expect to get 100% buy-in, so I am making it more attractive by increasing the monthly rent $10 for check or cash payments.