Do the research thoroughly and upfront on the buy side so that you know what is realistic to expect as far as the improved value goes, and don't bank on setting new records when doing so.

@Edward C.Northern suburbs seem to be doing well (Cedar Park, Round Rock), but given the amount of growth there coupled with low inventory it makes sense.  

Inventory shortages and rapidly increasing prices create an onslaught of challenges and market driven circumstances that often take more effort and involvement, and the damages that we risk causing can be very costly, to our clients first, and ultimately for the agent. 

Mortgage and capital improvements are excluded.

Aging MLS inventory, seller motivated by capital gains tax trigger.

Are young professionals moving into the neighborhood as first time buyers, starting families and improving the neighborhood or are they moving out?  

Finally, I schedule a walk-through with the tenant during the first 7-10 days of ownership so I can document the condition with pictures, talk to the tenant about maintenance issues, or project improvements during the next turnover.

Sometimes, you can move them slightly if the income approach is much higher, but your best bet to move an appraisal is meeting the appraiser while they are performing the appraisal and talking up how great the asset is, the improvements, the shortcomings of other comps, etc.  

I would start by identifying what specific criteria you are looking for in a property and then pick a few markets from there based on the inventory in those markets.

Our team added a bathroom to the master, opened up 3 walls to improve layout, and brought high end finishes to make the project a statement project.