We have put in new windows, added new siding, destroyed and replaced kitchen cabinets, fixed and repainted the walls and ceilings, redid the bathroom, and started installing new hardwood throughout the house.What was the outcome?

Downstairs is empty and can be fixed up really nice for $30k (new electrical, skim coat walls and paint, new doors, new bathroom and kitchen, new windows-old windows are ok).

You could contact a local reputable commercial broker and determine if this property truly has value but do not waste their time, if they help you then give them the listing to lease the property if you end up purchasing. 

If you don't want to be in the business, sell the house(s) and don't waste your money on property management and outdated concepts that add nothing to your value or income.

It (like all marketing methods) can be a waste of money if you're not consistent. 

Don't want to waste your time.

@Jaron Walling thank you for the post.  

I'd love to be a fly on the wall for that conversation!

Account Closed the tax assessed value has basically nothing to do with actual value, so an offer for 30% of the asking price is just going to be a waste of time, if it makes sense close to the asking price for you go ahead and offer if not just move on to the next property, no sense in burning bridges with an insulting offer.

These cracks are purely cosmetic and don't waste any significant level of energy or pose any security risks.