How to maximize the BRRRR method?

[Djordje Janjus]

We are currently closing on a townhouse in Northwest Indiana, and we are trying to figure out where to invest most of our money to be able to get the highest rate of return when refinancing. Do we start with the kitchen? Roof? bathrooms? and how far do we take the remodel? The townhouse itself is in livable condition, but we are trying to maximize our return, and are wondering how far we should take our remodels? Do we completely gut the kitchen, and the bathrooms? or do we focus more on aesthetics of the townhouse?