My property tax assessment doesn't show a breakout for the land vs building/ improvements.

The cash flow situation is expected to improve more substantially than the lower cost market.The higher initial cash flow market is typically the lower cost markets (or higher risk markets). 

LolHey we’re on BiggerPockets, not firsttimebuyersfordummies……if you NEED a realtor to hold your hand with regard to values of crown mounding or air handlers, hey go for it.

Keep in mind, like many things, survey accuracy has improved in the last fifteen years. 

If another heir does make a claim, you could deduct the reasonable and necessary costs of renting the property (but not the costs of improvements). 

@Evelina KhaimovaBelieve it or not, it might actually be more profitable for you to purchase a BRRRR in a neighborhood that does not have the best schools but is likely to improve in the near future.

If you default to a house near the rivers nearby you can find something affordable which you could potentially turn into an air bnb long term. 

Also, be on site to talk through all the renovations, and have a printed list of the improvements you performed.  

You can try to influence it by improving your unit(s) on the edge of a higher priced area and catch some overflow, but that's very hard to do in the middle of an area.2) HOA's typically only take care of external maintenance.

Do a cash-out refinance on the original mortgage after improvements 3.