The seller doesn't want to be bother with any improvements due to her situation. 

Your depreciation expense might be adjusted from year to year for improvements or depreciable replacements you made since your purchase, but there is no adjustment for appreciation, inflation, ARV, tax bracket changes.Should I add estimated income taxes to my non-operating expenses to get a more accurate analysis of cash on cash return.Most investors calculate cash on cash return before depreciation and before  taxes.  

You might be in better shape if you bought something with a greater margin of safety built in and improved it efficiently.Good luck and feel free to reach out if I can be of assistance in any way!

Paying you back "from a refinance after we improve the value and refi out" can be a pipe dream, and indicates an existing mtg.

We've seen some good improvements in the visitor industry so far (the last 40 days, when tourism opened back up). 

Also keep in mind the intangibles of attracting higher end tenants, increasing your unit value, and having possibly longer residency stays because of the improvements you put in.

Most sellers will allow you to take a contractor through to give you an idea of the costs to improve.

If the highest rent you can charge is 21-2200 after your improvement and your payment is $1900, you are going to have a thin cushion when expenses arise.

Sufficed to say there haven't been any improvements to the main house on the property in that time.

It is also one the edge of a historical district and has lots of very nice homes in and around the area.We made an all cash offer for just under the asking price, as we wait to see if our offer is accepted we did have some questions.Rental comps in the area go for $800 and $600 respectively, how much of an improvement investment should we make into these properties to make them rentable?