Investors have renovated a lot of SFRs and improved the condition of the housing stock but the higher rents are putting people out on the streets. 

Make sure the improvement would make your property valuable without overvalued for your neighborhood…any comps to look at?

Don't see it changing due to low housing inventory and demand increasing for buyers and renters

Inventory is constantly moving, and there is a lot of opportunity here in Hampton Roads.

There is currently no inventory in the areas I am looking to move to but, the good thing is I have time on my said.

@Mike Kroupa There used to be a tv show where decorators were given 2k to improve the appeal of a house on the market.

However, you can certainly improve your chances at success by focusing on areas that may be better than others. 

The dissent agreed with the majority that the sale must include a permanent dwelling and that a principal-residence sale must include a home and improvements, but argued that the dwelling could be demolished and rebuilt as the petitioners had done, where even though the original house was gone, this would be defined as renovation of the original principal residence, not as a different residence, and not interrupt the 5-year period. 

From there, you'll know if you need to save more cash, improve credit score, or if you're ready to go. 

The dissent agreed with the majority that the sale must include a permanent dwelling and that a principal-residence sale must include a home and improvements, but argued that the dwelling could be demolished and rebuilt as the petitioners had done, where even though the original house was gone, this would be defined as renovation of the original principal residence, not as a different residence, and not interrupt the 5-year period.