It's a 3/2 that could easily be a 4/2 or 4/3 - message me if you want to take a look.

I'd love to stay away from carpet entirely, but if I don't put carpet at least in the basement, it won't rent NEARLY as easily...

I feel like CapEx is definitely one of those things that can easily get overlooked so case in point, have reserves.

The all cash buyer will easily see the benefit to themselves too.WHY? 

A couple-three months of vacancy can kill a whole years profit and easily compensate for a slightly higher mortgage.

I DO have something against newbies thinking that they can easily invest out of state and get those pro forma returns and cash flows that so many providers dangle in front of them ... it's just not that easy and you will likely never see those returns in reality, and by the time you realize this and try to sell, you will likely also realize that you over paid for the property because you are not familiar with the market and trusted somebody who was more interested in selling you something than getting you a good deal ... this is not what newbies want to hear and more often than not they ignore it and have to learn the hard way, but it IS reality.

I think you could have easily configured it to be a walk in and a master bath or added another room out of that extra sq footage.  

I read somewhere that it was a good practice to change the locks, but it sounds like with existing tenants, there is no need to.One of the tenants just went month to month and wants to sign a new lease, so I will be able to transition them fairly easily.

, and it isn't too far away so they easily can come see during the purchase phase, between tenants and have a look at what is happening during renovations.  

If you have a step by step for MAO before you bought it, then use that formula, but this time re-arrange it with the unknown rehab costs, it is just basic algebra.