First Investment: How Much Should I Spend Remodeling/Improving?

[Al Enrique Canall]

Hi BP Community!

A month ago I closed my first Duplex in Jacksonville, FL. 

Total: $141,000

Cash: $27,000

But now, I'm very confused onto what to do next.   

I'm needing to make some minor fixes to the property, mostly cosmetic, and am being advised to fully rehab the bathrooms as these bring great perceived value to the property appraiser.  
Bathrooms are Ok, fully functional and spacious, but with an older 1990's look.

I bought at $50/sqft and with rehab and repairs costs it's going up to $60/sqft.  

I'm looking to refi at around $75-$80/sqft and have an 8% cash on cash return once the property is rented.

My question is:  should I also include bathrooms in the rehab? Do these actually make a big difference when appraising a property? 

Would love to learn from you!

[Cassi Justiz]

This is going to depend on your market comps. Look at what bathrooms in the other houses in your area look like. It can change your appraised value, but you will still only appraise as high as your highest comparable. If the norm in the area is for fully upgraded bathrooms then I say do it. If it's hit or miss or not common then I probably would just do basic cosmetic updates (paint, refinish *not replace* the counter tops and tub if needed, professionally clean the grout, etc).