48 hr action taken as promisedthis is my first property I have ever analyzed & I dont even know if I have done it correctly, some input of data was guestimated, but I guess practise makes perfect.I wud appreciate any input to improve, feel free to, please keep it simple for me as I am a beginner & am still having to google what the abbreviations mean on most termonolgy.This took me hours and hours, alot of info I am trying to find for my data entry either took me forever to find or u had to pay for the info :-/So a few questions?

Values have gone up a lot but rents have not improved much.

How are you going to pay for improvements? 

Some specifics:*We were required to put down $12k in option deposit monies and also an additional $7500 for security deposit and some improvements.  

The DealProperty DetailsOakley, OH (this place has been exploding the past 5 years)the street is one of the last places in Oakley that hasn't been improved (until now :) last year, one the other end of the same street, a investor bought up 10 lots for $650k (average property values were ~$100k and they are building a 200+ unit luxury apartment complexThere are about 5 of these types of complexes that have been built within that last 5 years (3 in the last year)Any thoughts/feedback on buying rental properties near these massive luxury complexes?

If you have the money and want to improve the property and get better tenants in the property down the road.

I improved my credit scored and even took out money from my 401k for a downpayment.

If you build a huge amount of equity from your improvements and you really love the house, you could just stay there and get a LOC to be able to access the equity (~80%) for investing? 

It seems apparent to me that actually using it to pay down debt is counter productive, until you're ready to refinance if that's your objective.It makes more sense to me to save the cash flow (true cash flow, not vacancy/maint expense savings) in a stockpile to use it when an opportunity comes along, whether that looks like a new property or an opportunity to improve either financially or physically the existing state of a income producing property.The opportunity cost of something else coming a long is probably what I'm skirting around, but in my mind it makes sense to bring in a respect for time and opportunity to the equation.I also feel like something I extrapolated from Gary Keller's Millionaire Real Estate Investor is worth sharing for anyone reading for nuggets.  

Additionally you could realize any of the forced appreciation you've been able to create through renovations/improvements as well as any appreciation gained at purchase by receiving a discount against market.