I know there is a lot that goes into appreciation; the price paid for the home compared to the condition it is in, improvements I can make, the type of area the property is in and the direction that area is going economically.  But I've heard that multifamily properties do not appreciate as well as single family.

I am in the process of purchasing my first property (woo!), which is a two family in a nice town that has a detached two car garage.  I have been out of college for about two years, and ideally would love to refinance the property at some point and roll in my student loans.  I have about $65k in student debt, which seems like a lot of appreciation!  There are some things I can do to make the property nicer, but overall it is in good condition.

I know we can't talk specifics, I guess what I'm hoping for is that someone can say "Yes, this is possible!" or "No way, $65k in appreciation is hard to achieve."  So let's speak in generalities!