I'm approaching the final stretch on BRRR and need advice

[Jon S.]

I'm doing BRRR. The house is a triplex and is being nicely renovated inside and outside, but the property itself is an eyesore, as the parking areas are in bad shape, there is no grass, the dirt has washed away and the ground is uneven, and there is no fence. In regards to the fence, the neighbors are nice, there haven't been any problems in the neighborhood, but the houses immediately next to this house are in need of repairs, there are some loud obnoxious drunks in a neighboring house, and a few blocks down in one direction there is a public housing project. One block in the other direction is new homes, townhouses, renovations, etc. The location is urban and convenient to everything. So I upscaled this renovation in anticipation of future improvements to the neighborhood, and in hopes of attracting better tenants and higher rent. Cleaning up the property will be expensive, adding driveways, leveling the ground, adding sod, and adding a fence, comes to about $11K. Do these items earn their keep when it comes to the appraisal? If they really improve the appraisal, then doing it won't be a problem, as I will get most of it back in the refinance.

Based on the neighborhood issues, and my desire to attract nicer tenants, I really do have to do the fence, right? What about sod? Could I just have the land leveled, add fill dirt as needed, and then seed it? Or is the sod needed to attract good tenants? 

When it comes to fence choice, the cars will be parked outside the fence. Privacy fence (6') would be nice for the yard, but it would mean being unable to see the cars (on the outside of the fence), which might invite break ins. Any thoughts on fence type? 

Thank you