multifamily BRRRR while tenant occupied?

[Frank Herbst]

Hi all, I have a couple of properties that were BRRRRs. I found the process to be pretty straight forward but these are single family homes that were not occupied and thus easy for me to work on. I have been interested in jumping into multifamily space and due to capital limitations I would want to employ a BRRRR strategy as well. What I am finding is that properties that interest me are well occupied and I am having a difficult time envisioning how I would be able to increase the value over only a 6 -12 month time period while tenants are living there and I worry that I would not be able to refi. Thoughts on strategy?