How do I BRRRR a Duplex?

[Daniel OKeefe]

I just made an offer on my first duplex. The financials and cash flow are great, however I want to be able to get my cash back out to put into the next property. Both units are rented at $1100/mo each and market rent is currently $1400-1500 each side.  Also they could use light updates- paint, flooring and maybe cabinets. How to I improve the value of a duplex so I can refinance my money out?  Is it totally dependent on the income it produces so or will it appraise higher just with updates like a sfh would?