Upside-1.Once it is rented to a good tenant the returns are great2.There are staggering improvements in the neighborhoods every year and I believe this Mayor is going to speed up this process.  

Research the Bureau of Labor and Statistics for specific job industries and how the area and its industries are currently doing.If you do buy an Income Property be sure to start with a reasonable Capital Improvement account for emergencies.

That is a significant improvement. 

There is NO credit applied to the purchase price for improvements oradditions to the property.

I think its a bit like tenant improvement.

I've always invested in locations where I feel confident that when the larger market improves, they will be the forefront of that appreciation. 

I have put in writing that any and all improvements will stay.

I have put in writing that any and all improvements will stay.I am struggling with this now because I took a new position as an assistant property manager to gain more experience but at a pay cut.

Also look for areas with population growth Where to find your dataIn terms of the input data we discussed above, here is where you should be looking for each of these: Property Details: This information should be available from the seller, but more comprehensive and detailed information can also be obtained from your local County Records OfficePurchase Information: Obviously the seller is going to name a purchase price (which will likely be negotiable, of course), but the more important information here will be any upfront maintenance or improvement work that needs to be completed to ensure that the property can (or continue to) meet its income potential.

(My partner and I are both VERRRYYYYYYY long-term buy and holders, so even this 15yr period is much shorter than I plan to have this property.)Plus about $50K in my share of equity from the improved value on top of the rehab costs(conservative IMHO).