There is a tax rule called de minimis, stating any improvement under a certain threshold can be taken off as a repair instead.

If you truly want conservative estimates stick to the 50% rule. 

@Hannah Rubin @Dean Iodice If you are measuring our market's "deals" against the ones you hear about on the podcasts, where they talk about getting the "2% Rule" to work, then you're correct.

This comes down to thee Golden Rule. 

Otherwise, a general rule of thumb is during the spring or fall so that the weather is optimal, as you've identified above.I'd recommend calling a few different realtors in the area and ask their opinion.

Check the local zoning rules.

I’ve heard as a general rule it’s best to rent if you plan on moving within a couple of years, which makes sense because of costs associated with buying/selling a property.

Wife and I want to start and actively support a few charities once we get the ball rolling. 

In the Cleveland market, I always use the 50% of gross rent rule. 

Another thing is that most any of the properties that I find will barely make the 1% rule and I have yet to find one at 2% or one that each door will cash flow at $200 as suggested, at least on a 15 year note.