I haven't invested in the area because my sense is that it is a family neighborhood that does not attract many renters. 

I've also found having a deal in hand will attract the right partners  neededGarrett

Location: Raytown-adjacent, outside the 435 loop, 73% owner-occupied neighborhood, Raytown schoolsProperty specifics: built 1960, 3/2, 1200sqft, 2 car garage, large lot, quiet streetPlanned renovations: New roof, HVAC, some new electric, finished basement, good cosmetic finishes (hardwood/tile, granite, etc)NUMBERS:Price: $99k (after renovations)Projected rent: $1100/moEstimated monthly expenses: ~$400 (allowing for vacancy, maintenance, taxes, insurance, PM fees)I'd use leverage to purchase, and with the payment factored in I project just under $300/mo cash flow and about 11% COC, Cap rate between 8-8.5% depending on how you crunch the numbers (I'm rounding them for the purposes of this post, but I calculate pretty conservatively).The numbers are decent, and I like that this house is on the higher end of neighborhood normal - it should be a very desirable rental, and attractive to a potential future buyer (though I intend to hold).  

Make sure you can proof up with your offer.I know in my market the medium sized local builders have an 'edge' because they will close faster than the big guys. 1m closing in 6 months is usually more attractive than 1.2m closing in 15! 

One intangible to consider is whether the garage will help you attract a better quality tenant.

It's one thing in a private yard...they can leave it there and attract flies and disease as long as they want (it's still gross) but if there are other people around, it should be cleaned up asap, no exceptions imo.

Cheap finishes attract cheap tenants.

I believe the tax code is more than fair and do try my hardest do my taxes right no need attract unwanted attention even if its legal unless the potential benefit far outweighs the possible scrutiny in this case it doesn't.  

@Carlos Velasquez yes you are very right, this is not a flip, but I'm also trying to attract a higher rent for the same space.

You also need to list on how you plan on improving the occupancy and the value add services that will attract new tenants List Capital Improvements that you plan on doing to the property and how you plan on phasing these improvements Request the bank to include the initial capital improvements with the loan.