I do like making a nice property for someone that might not otherwise have had one, and it feels good improving an area of town that certainly needs it.

Generally a rent increase of more than 10% is considered excessive, especially if no improvements have been made to the rental unit.  

Multifamily are typically produce better cash flow but a good deal on a SFH can out perform a multi. 

Property Numbers:Purchase price $108.5k w/ 20% Down loan at 4.75% gives me a $453 payment for principal and interest.Reno Costs: $3500 roof + $15k cosmetic update + $4k for other improvements/buffer = ~$24kRent: $550 and $650 after repairs and updates with 9% PM fee, 8% vacancy.

Moisture problems can often be solved by drainage improvement, proper foundation sealing, and ventilation.

There is a risk involved in getting the property up to proforma performance.

Other than granite, electrical and rough plumbing this is work I usually perform myself, so it is all material costs.

So maybe getting a C class property in a B or A class neighborhood is the way to go so you can over time improve the property and raise the value.

But we have learned that the only winning strategy to overcoming fear and comfort is to learn and improve by taking action every day.

You could start with improving the kitchen and have to open the walls to update the plumbing.