It is also much easier to qualify as an RE professional if the person striving to be an RE professional does does not have other full time employment. https://www.biggerpockets.com/renewsblog/2010/08/04/basics-of-real-estate-professional-status-tax-irs/If we do two units of rehab in a year (each rehab likely takes a few hundred hours as the hours add up fast), then the wife qualifies fairly easy as an RE professional when combined with her usual RE duties.  

@Jeff Mills the basic problem with rents in that range: $450, is that variable expenses quickly eat up any profit.

Your question is basically, "what can I pile on?"

The basic underlying factors of large downpayments and higher borrowing costs by either homepwners or investors never changes.

Sorry If thIs Is pretty basic, but I’m currently looking for a rental in the Midwest and am wondering some of the best strategies for building out a team (Property management, contractors, etc) while here in Portland, OR.

You basically said the same thing tied to the owner or the property is the same. 

Like the floors, the current kitchen is not in dire need of being replaced, but it is currently very basic.

Basically double charge?

Heat & ac, basic cable or internet packages, parking, storage etc.

I'm a huge advocate for North Central Connecticut (basically Hartford County).