We have owned it for almost 2 years...Purchase Price $44,000 Improvements $36,000 Total Cost $80,000.Current rent $950Mortgage $776 month (ten year note P&I)Taxes $60 monthInsurance $30 monthCashflow $84 monthCurrent Debt $76KEstimated Value $130KThe casflow isn't very good but I have about a 10% return of my actual cash invested in the deal.

Not sure if you have any desire to got that route, but it might significantly improve your cash flow.  

Check on the solvency of the HOA, anticipated improvements, liens on the HOA, potential liabilities.Sounds like a good one!

Heating costs are really a killer in Maine so I'm going to focus on improving the energy efficiency by replacing the old windows and insulating the attic.

Those figures even include some reserves written in for tenant improvements and leasing.

Great debate on such an interseting topic.ARV should be the estimated market value less costs of repairs and improvements (according to the plans and specifications assuming workman like standards being met) to arrive at the current value before work.

My main concerns is I won't be given enough leeway in improvements to get the appraisal value high enough to refinance without a significant down payment.

Good for you @Michael W. on wanted to improve the community and understanding the risk with lower income.

Secondly, 90 days of holding costs along with that time frame provides a window of time where repairs and improvements might be made to justify a new and higher price, the new owner also has more skin in the game.

No indication of Antioch improving soon, but if you wanted to brave it for the long term, Nashville's growth means that Antioch may rebound in another decade.