Help with first Out of State Rehab/Reno

[Tanya Pham]

Hi! We are under contract for our first out of state investment property, a triplex (three 2BR/1BA units) in Cleveland that will need some TLC if we want to raise the rent to market rates. The inspection hasn't happened yet, and we haven't had a contractor walk through, but I'm thinking ahead to next steps.

Do you folks have guidance on what exactly you communicate to your general contractor for what you need in a rental when you're looking to redo a a decent amount without any demo or major overhauls? This property is in a C neighborhood with with cash on cash return but average outlook on overall appreciation. We prefer to make good quality updates to avoid continuous issues but obviously want to keep the costs minimal. I'm sure there's a formula that experienced investors use when prepping a unit for renters, like specific cabinets, countertop, etc. Anyone open to sharing their approach or providing more guidance? Thanks for your patience with a new OOS investor! : )