Cosmetic upgrades will have the biggest impact on value for appraisal purposes, assuming the existing mechanicals are functioning well.I would say look at some homes that have sold for 115k - 120k and see what kinds of upgrades they had. 

@Cassandra Staffieri looks like the city is very much against the idea of STR's.

I am new to real estate investing, and am actively looking for properties to wholesale. I am still not 100% sure all the contracts that are needed to actually acquire the property and actually assigning it.

As you may have seen in another of my posts, my wife and I recently moved out of the city and bought a house in the ‘burbs!  

@Kyle Nicholas YeitrakisI think Richmond is a great city!

@Kerry Noble JrMy end goals are to flip homes in the Chicagoland Area and eventually to other major cities.

Did not work out with the first renter however, I have found my stride and now have a great renter.Looking to hold this long term as it is a great value within the city of Atlanta which lacks affordable single-occupant housing lacks.

@Ed Emmons correct working with the city inspectors at a local inspectors will bring you more clout than the folks that try to get away with Shady stuff.Recently recently brought a duplex in an area of Rock Hill South Carolina. first thing we did was replace the plumbing from under the house to the road which I found out was backing up four years before we purchased.

Most rentals in our city tend to be on the lower end of condition.

Being that it's a small space is Eastie and lots of development happening, you have to work around and city.