It's in a good area and seems to be recently upgraded so I'm looking at is as turnkey.

We are currently living in the home and refinanced to traditional mortgage now that we are done and snagged a 2.775% rate with a $368,000 appraisal to boot so we added $120K with $65K in upgrades.

Breaking it Down: Repair Costs are all your rehab and this comes down to your knowledge and decisions on how you want to upgrade.

If the inspector goes through tell them their rent will go up with the upgrades. 

Found it online, new construction, most negotiations were on upgrades.

The house doesn't have any fancy finishes or upgrades but it's in a condition I can be proud of offering to tenants.

It had an itemized list of upgrades and the cost of them.

I don’t love the house and I wouldn’t mind selling but it would require most of the equity as a down payment on the next place (since we would want to upgrade). 

Maybe flip to an investment in 8 years when I upgrade to a SFH.

Plus if you're upgrading the property you get rid of likely appreciated pretty well too...I don't say this to discourage you, rather level set and point out having money or access to money doesn't give you an advantage right now.