It is my understanding that high ceilings were designed that way for the heat in the summer.

That doesn't mean that would be the best approach for you though!

On our high end homes we get a pro designer, but don't solicit feedback nearly as strategically.

They have the artistic talent and design knowledge to do so.

But this is kind of what Bigger Pockets is designed for - researching subject no matter how long ago they were written.  

What you have effectively done is ruined your returns on the other properties in order to purchase a deadbeat.I understand the point of your original post was not to get into this part of it, but I caution you on your approach to investments.

I like the conservative approach you took with incorporating vacancy exp, repairs & maint, cap ex, and property management.

I can't use the income approach, its a small town with maybe 3 restaurants or so, comps are nonexistent (I think) and its been vacant for a few years now.According to the assessor the land and building value is $50,500 (I'm using that as a ball park number) although the current owner did pay 300,000 for it previously.

With this approach it is very important to set a before rehab price that leaves room for added value.

She is the interior designer and stager, and I do the manual labor and oversee the finances.