Getting my MF and got questions regarding MTM tenants in CA

[Nhi Nguyen]

Hello BP.

I'm looking to buy a 12-15 units MF in NorCal.  One of them has 100% MTM rents at lower than market price (about 15-20%).  The condition of the units are pretty rough.  So if I remodel/fix them up, rents can be even higher.

What are some of the best game plans to tackle this, short term (within 6 months of acquiring the property) and long term (1-3 years)?  I'd love to remodel the units and raise rents, of course :)

thanks much.