Any suggestions about how we could improve?

Do not close out lines of credit, especially the "good" ones, with lower balance ratios to credit extended for the sake of trying to improve anything.

We are planning to lay down new tile throughout, paint everything, stain kitchen cabinets, and just some small improvements that are needed.

More details needed- however, here is the approach I would take.If dealing with acreage, I would look up and see what the average price per acre are in the area, and add on the value of the home and any improvements to the land (well, septic, etc) as well as fixtures (garages, sheds, etc).If dealing with subdivisions, pull comps from MLS regarding larger lot size with similar size homes.Good luckD

@Jon Rylander - I'd suggest looking at a 5% down conventional loan with PMI and using the extra money you have to make improvements and add value.

My partners & I bought these buildings in a state of high distress at low prices, and have been continuously & incrementally improving them over the last 8 years.

We have almost $30k of built up passive losses from depreciation, repairs and improvements.

I have been told that is there is an insurance claim and you did not get a permit they can not pay for the improvements you did.

.-5% for capital improvements (capex).Those last 2 numbers are based on average expenses for Columbus multifamily properties that I've observed over a number of years.Don't forget there are other (small) expenses such as legal, etc.

I have very good solid income but having a hard time with banks at this time, it looks like in 7 months my credit score can improve strong enough to get a mortgage.