Account Closed If you are talking about Category as in QBO lingo - then Improvements and Repairs are a must.

That area is only improving with a large state farm headquarters going in and the Braves stadium moving to the north side of town. 

There are many benefits to using this loan and we will list those below- however please keep in mind that a licensed mortgage originator should do a full analysis to see which renovation product is right for you and your family.Here are some highlights of the Fannie Mae Homestyle Renovation Mortgage: Perform almost any type of improvement or repair including luxury itemsImprovements and repairs can go up to 50% of the after improved valuePrimary residences, second homes and investment propertiesOne- to four-unit homes, condominiums, and PUDS30 year fixed rate mortgagesAs little as 5% downNo mortgage insurance for loans with 20% equityReduced mortgage insurance for loans with less than 20% equity versus a 203kAdditions and second levelsSwimming poolExterior spa or saunaBuilt in BBQ island and outdoor kitchenBuilt in outdoor fireplaceTennis courtsGeneratorand really anything else you can think of!

Should we take advantage of the de minimis safe harbor election on repairs vs improvements?

Are there any other strings attached I.e other code improvements required?

Maybe you buy with 75% leverage but after improving the property and raising the income, the value goes up and by year 2 or 3 you are at 55% to 65% LTV. 

The fact that some tenants have a lease that expires in 45 days could be a good thing as you could vacate those units to improve them, then offer them to the existing tenants in the other units at an increased rent and if they take it fix up the units they move out of.This sort of value add can be a very smart strategy, you just have to know how to run the numbers carefully and hold to them so that you are not doing all this work for free.

My background is professional sales and marketing, and I grew up in the home improvement/construction industry.

Assessed Value: $369,851 Percent Improvement: 81.09% Land Value: $69,930 Tax Amount: $4,119.46 Improvement Value: $299,921 Tax Account ID: Homeowner Exemption: H Tax Rate Area: 1-002 Tax Status: Current Tax Year: 2016   Foreclosure Record Recording Date: 01/30/2017 Document #: 2016-264310BK-PG -  Min.

I agree with the prior comments, the only real duplexes now in Northside, and that's an area that is seeing improvement, but is not a very desirable area at the moment IMO.