My preference would be to replace the carpets and leave everything else "as is" until the rents pay for improvements but that could be a newbie mistake.

My most successful formula is to buy discounted/distressed properties and add value through improvements.

The difference in what the appraisal is and what the cost to build is can justify the beginning value of the incomplete improvement.

My debt eliminator self wants to pay off the loans so I don't have to think about them anymore and to improve our personal financial situation.

The credit of the tenant coming in, the market rents the landlord wants, and the tenant improvements requested on new leases will be key.It doesn't matter what the owner has for debt service.

Nonetheless, I would anticipate the condo to be worth about 50% of my costs (purchase and improvements) and the SFR perhaps 25%.

They are pretty much always happy to see the improvements in the neighborhood and curious about what we do.Armed guard sounds pretty crazy.

Split the improvements from the land 2.

I have a close family friend who has recently gotten sick and it does not seem like it is going to improve.

Many properties are sold without mineral rights in Texas.My guess as to the issue is that the owner of the mineral rights has the right of ingress/egress and they have no responsibility to of placing any lands or improvements back prior to their use.