I don’t necessarily expect every dollar spent on renovations to translate into a dollar increase in property value.

ahh, i know what APT you're talking about. that area is not too bad. but if they are already being rented for $550, you're going to have a tough time increasing them much more than that.

@Ned Carey: Much of the multi-family housing stock in Boston was built during the city's peak population boom, 1890-1930 (brownstones and wood three-deckers alike), as an upper-middle class response to tenements to increase density.

I am trying to find some good books to read soon to help me grow and increase my knowledge in real estate.

I'm also wondering if you begin to feel better about the investment over time, and as you become more confident in the performance of the properties they sell you? 

If I could what other investors are looking for and successfully help by generating leads, when I'm ready to begin investing I'll know exactly what I'm looking for to increase my odds of success.

"Wear and tear" is a real thing, and it increases one's business expense. 

@Travis Raila  @Shital Thakkar @David Martin JrI would disagree with @Ali Boone , even though she may be correct that prices have increased in the Atlanta market, I still see very strong potential for 10+% cap rates and great ROI.

For instance, changes to tenant laws, enactment of rent control, continual increase of property taxes, etc. could all throw the math out of whack.

I was thinking of Chicago, IL but their property tax seems to be constantly increasing a lot and seems pretty expensive.