In broader terms the benefits are Cost Reduction, Improved Operational Efficiency and create competitive advantage.

We could debate for hours on this one but the reality is, there is a cost to ownership (whether it's the cost of funds to purchase, maintenance, repairs/improvements, or cost to sell).

3) How can I improve my odds of getting approved for a loan without a cosigner as my parents have told me they won't do this.

I have ton of home improvement knowledge and I would love to eventually be a fulltime real estate investor.

Acting on that advice will improve most people's luck.

The city also made improvements to the drainage and that helped, if any changes like that have happened, you might negotiate it down further.

It appears your investment sold above the median price for Orange County, likely due to improved employment and tight inventory.

Research ways to improve your credit score2.

How are you planning those equity improvements?

Small town feel close to urban areas.The issues are very few jobs, not many commute to Vancouver/Portland, the water quality has issues, school and hospital quality is poor, HIGH poverty rates, and a general apathy about improving/changing the city.