This house was previously a rental property with a moderate rehab.

If you have strong reserves already, and want some moderate growth, there's little to be served by paying off the mortgage. 

Elderly owners mean they can't care for properties and moderate income folks have difficulty in maintaining properties.

The maximum might be some other project that promises to return 12% but is fairly risky so you moderate it down to 7%.

It may be up and coming, but still moderately priced.

I’ve doing some research around my area for potential properties with needs for cosmetic/moderate improvements that I could flip, and I believe I’ve found one.

BP'ers investing in KC - I am also looking to invest in the area.Have already developed contacts for Property Management, Agents, Turn Key providers and looking to broaden my network.Currently focusing in INdependence, some areas of the urban core, Raytown, North Kansas CIty.Looking for Multifamily (2, 4, 6 Plexes) with moderate to little renovation needed.

I tagged some of the BP staff/moderators for you so you can get a more accurate answer.

Carpets and drapes - "useful life" ruleNormal wear and tear to carpets, drapes and other furnishings cannot be charged against a tenant's security deposit.243Normal wear and tear includes simple wearing down of carpet and drapes because of normal use or aging, and includes moderate dirt or spotting.

Is it worth it to do this for just principal paydown + appreciation with only moderate leverage?