Quote from @Hilary Sackor: Hey, I am currently struggling with searching for good areas in the city that would make for a great place to invest, with hopes that the area will continue to improve and become more renter-friendly.

I'm trying to figure out which core improvements move the needle the most for the WNY buyer/appraiser.

Any "improvements" they make stay with the house, of course.

It depends on your objective:1. trying to generate chunks of money = flips2. want an extra couple/few hundred dollars a month = buy a rental 3. want to live for free and redeploy what you would have spent on a mortgage = househack 4. want to acquire properties without a lot of money = BRRRRHousehacking immediately improves your quality of life financially.

The operators are focused on improving cash flow and positioning for future refinancing opportunities.

Specifically:What were your biggest challenges (zoning, drainage, ventilation, fire code, utilities, tenant improvements)?

You’d need rents or market cap rates to improve significantly to force value and make that spread work.2.

I’m trying to learn what matters most to investors so I can improve my own research process.

Planning ahead with a CPA familiar with multi-state real estate can save you from surprises.Rehab expenses can help now: Any improvement costs you incur during the rehab phase may provide deductions or impact cost basis.

Also, you need to do a price improvement.