Forced appreciation to eliminate pmi

[Brad Sicoli]

I'm putting 3.5% down on my first home and intend to house hack it. I do have some cash to put more down but I think id rather use that capital to do some rehab to force appreciation and hopefully eliminate PMI. I have 2 questions about this concept:

1) what are some easy quick ways to do this in a du, tri, or quad plex? Ive never done any of this before so I could use recommendations.

2) I plan on making an offer on a quad this week but the place has no laundry and no "hook ups" for laundry. Is it possible, or even a good idea, to work with the city to make hook ups and install laundry in each unit? This would accomplish 2 things.

First, rent at this quad is low compared to other comps in the area. This would help justify an increase in rents.

Second, currently the landlord is paying for water. If I can have the tenants pay their own water it will help expenses a lot. Maybe metering separate units can be accomplished without this laundry forced appreciation idea bit somehow I think they are related. Please tell me where I am wrong.

Thank you for any direction

Brad

[Wayne Brooks]

If you're doing FHA 3.5 % down (less than 10%) MIP is for the life of the loan period, regardless of future value. You can only eliminate it by refinancing out of the FHA.