Then there are 3 houses one with upstairs and downstairs rental units, but that house needs new roof, gutters etc and new exterior paint....also not sure of inside...likely it is in great need too. 

I just got the maintenance and repair bills back from my property manager (who I hired approximately 8 months ago because I’m out of town) and the turnover costs were approximately $8k ($3k patch & paint, $900 for a new fridge because lots of interior parts were broken, $900 for deep cleans, door repair, labor, etc).

Had another contractor remove a small tree and debris from the yard, and one more to touch up paint on the exterior.

I kid you not.I had another one in Erie PA where they fined me this past winter when there was 3 feet of snow on the ground and said we needed to paint the house, they gave us 2 weeks then started fining me.

Since I wasn't there, I didn't know that touch up paint needed to be done or the bath mat looked all worn and tattered and should have been replaced 4 months ago.

I do not however want to evict as I need the cash flow to start out and not blow my reserve while I clean, refloor, and paint units.

The condo will be available for rent mid january currently updating floors, paint and kitchen so pics coming soon...are the qual standards typically included in the listing? 

From roofs to painting.

Are you legally allowed to use it to fix "wear & tear" items (spot painting, fixing damaged flooring, cleaning, etc..)?

Upside Potential and Plan When Acquired: - Rent Raise $600 + (Will force value and appraise much higher for income based appraisal)- Continued Section 8 Opportunity (Predictable Cashflow)- Capital Improvements (Exterior Paint, New doors, Windows.)- Decrease expenses by water being included in tenants lease.- With the higher appraisal due to improvements made, we plan to cash out refi after the 6-12 month seasoning, to pay off the first and land better terms to keep long term.Here's my Question: Because there wasn't many comps, if not any at all,  would the appraisal be based on the income the property is making at this point?