What if I find a potential rental property that is in fantastic condition and it doesn't lend itself to rehab and therefore hard money loan with refi?

PS, Phoenix is pretty big on pets, especially in the suburbs.More often than not, the price you're charging for rent isn't justified by the condition of the property or lack of certain amenities, (pets, appliances).

You would need to know the neighborhood and condition of the home. 

i want to do renovations to my aunts home which is in poor condition due to neglect of normal maintenance for decades literally, in exchange for gaining title to this residence. it is in a very good zip code in Westland MI and includes a large lot and one half.

But, if this great tenant has been conditioned to accept annual 3-5% rent increases, why would you disrupt that, especially in a period of high inflation?

I run a short term rental on AirBNB and after a year, the property is in excellent condition.

Units, location, condition dictates the program that works for each deal.

It seems like the system is set in a way where landlords can't really improve the condition of their house without knowingly loosing equity or cash flow. 

And if it was built around 1900 I would want to know what kind of condition the plumbing system is in and the electrical is probably way out of code.

It makes it nice, especially when the condition is long term.