According to local market data:The average rent increase has been approximately 4-6% annually.Neighborhoods similar to West Philadelphia have experienced even higher growth rates, particularly in areas with new development and improved amenities.Demand remains high, driven by a student population, young professionals, and an influx of new residents seeking affordable living options within urban settings.Value-Add OpportunitiesThe property’s garage provides an excellent value-add opportunity.

Make your improvements with “tenant-proofing” in mind so that it will make a good low maintenance rental when you move out.  

The liquor license is a transferable asset being purchased in a depressed market, and the sprinkler and hood upgrades increased occupancy from 84 to 112—a meaningful long-term improvement.

The profit calculations would be your adjusted cost basis (purchase price, plus capital improvements, minus depreciation), subtracted from the net sale of the property (sales price minus closing costs and commissions), like others mentioned above.

But then there is something called improvements, and the improvements is just as much, making the assessed value $2x. she has no idea how this could be.

Is there anything I can improve on?  

Review Capital ExpendituresEnsure large repairs and improvements are logged correctly.

This is a minimal effect work on improving your income limit (available credit) and utilization.

For those who truly want to come into the communities and improve the neighborhood  they find that urban governments are rolling out the red carpet.I would love to know what others think on this topic?  

Quote from @Frank Borzen: Quote from @Jules Aton: Wow“Improved compliance capabilities to help local governments enforce their short-term rental laws.