The other immediate gain will come from improvements, such as adding better landscaping or updating the kitchens.

The upstairs unit needs some light rehab (kitchen and bathroom) and the exterior of the house needs paint and a roof sooner than later.

The house is just less that 1800 sq ft and needs all new floors, both bathrooms and kitchen update. 

I'm not an accountant, but i believe any capitol improvement you made would have to be depreciated over the life span of the product or asset. furnace, hot water heater - i believe would be over the typical life span of those products. windows, kitchen, bath - i believe would be over a 27.5 year span. minor repairs can be deducted in full that year. someone correct me if i am wrong, as i said, i am not an accountant.

ARV: $195KRental: $1850/monthRehab: (Carpet, Granite updates in Kitchen and bathroom, fixtures, and landscaping) $22,000Cash to take over loan: $23K+ClosingInterest rate: 4.625%Unpaid Balance: $142KPITI: $1650 approxPrincipal: $258Interest: $538Escrow: $850Maturity Date: 08/2040Looks like 23,000 plus closing fees, plus 22,000 rehab, I would be out $45,000 approximately, no way someone going to give me $45,000 down to owner finance. 

Aesthetically and at face value, this house looks nearly identical to the other renovations - same amenities in the kitchen, similar finish in all rooms, similar bathroom remodel, similar yard/landscaping, same lot size, all one story etc.

Hello,I need to replace a leaky kitchen faucet in a rental and am looking for a good balance between quality and value.

Kitchen and bathrooms get expensive quick.

We purchased the house for $70k and put in $80k on foundation, framing, moving the kitchen, adding HVAC, rewiring the knob and tube, redoing the hardwood floors, and exterior.  

It oddly enough already has new granite Ctops and kitchen cabinets.I'd like you to weigh in on if this sounds like a good deal to you.