Propert Calculations

[Jason Donovan]

Everything I read gives a good breakdown of why you should have accurate evaluations on a buy and hold property including, fixed cost and variable costs. What I don't see is the cost added to improve the property in the property evaluation analysis?

For example if I bought a 2 family for $80,000 and it cost $20,000 to improve with my own money, didn't the property really cost $100,000.

Thanks in advance