Did you hold it or did you turn a shovel to improve it.  

Instead of Vote vs not voting, I think an Up-vote vs Down-vote could vastly improve the quality of the exchanges being posted. 

So you have to find a property that is likely not so nice, and buy it for a "AS-IS" price, then make improvements and enjoy the reward.Curb appeal drives rental pricing; If an neighborhood rents for $1,400 normally, and you find a rundown home renting for $950. 9 out of 10 times, its renting cheap because the LL wont improve the property, and likely has non performing tenants in it... so you buy at a cashflow price on the $950 minus repairs, then rehab and rent it for $1,400.

It's for rent all the time, price reductions, a little improvements needed, etc.)

Started out with $3,000 and paid for the improvements over about two years with each paycheck.

My father has always been self employed and now has been into buying and selling mostly commercial property, improved and unimproved, fr about 45 years on his own and he has taught me a little bit.

Any investment in improvements would have been capitalized as basis and thus subject to depreciation recapture.It is not an all or nothing transaction however - you can do a partial exchange, but will owe tax on the amounts not reinvested. 

At the negotiated price the property, it would be a 12% Cap before any improvements (raising rents and charging for utility overages).

It may be wishful thinking on my part.Do you think any improvement outside the house like fencing or invisible fence etc for dogs will help attract potential renters for future buyers?

The reason is because your investment horizons is likely 5-7 years, and you can get cheaper financing with an ARM that will improve your cashflow and you won't have to worry about interest rate risk until later on when you decide to sell.