Should I add a second bathroom before I rent?

[Tim Wittenborn]

Hey BP,

Couple questions on our new property that have come up:

1.  There is plenty of room next to the original bathroom to make a second full bath off the master bedroom turning it into a very nice master suite.  This is something that we are DEFINITELY going to do before we sell in 6-8 years because it will add about 25k to the sale price.  Is it better to add the bathroom now, leading to a couple hundred dollars of cash flow more a month, and also likely better tenants, or should we leave it like it is and remodel before we sell?

2.  The floors are really nice (after we scraped off the grime - it was a foreclosure).  It's a honey laminate that is really sturdy.  The doors and trim are slightly darker wood and feel slightly dated but are in really good condition.  I would love to paint the trim and doors white or just replace it all.  Is it better to completely modernize the space before renting?  Or should I let my tenants destroy the old doors a bit and just replace them when we sell?

3.  Lastly, I know we're entering the blackout period for rentals.  Probably pretty unlikely we'll be ready for a tenant on 11/1.  Probably pretty unlikely that we'll get a tenant on 12/1?  Probably impossible to find a tenant on 1/1 (no one's gonna move on new years day).  If I decide to do some of the work above, it will slide me further toward spring and better chance of tenants, but I'll be paying about 400/mo in hoa/tax/ins until there is a tenant.  Should I push it and try and get someone in there ASAP or is it better to take my time making the place perfect before renting?

I guess I'm just looking for any guidance you guys can give me!  The place will be a solid B when the new paint is in, but with another bath and new doors, trim, etc, could easily slide into A territory, ideally adding about 2-400 dollars in cash flow.

Thanks in advance for the help!!

Tim W