Recent Duplex Purchase

[Bradford Clark]

I closed on a two 2 BR duplex Wednesday which has an existing tenant on the first floor. I was paid February’s rent yesterday of $400. She has lived in building 11 years and I told her she can stay as long as she likes. The second floor apartments windows are being replaced next week. My question now is how much should I invest in this unit. My options are to build a new bathroom and install a new HVAC system to make this unit super appealing or paint and repair and get a tenant immediately. Any questions, comments, or concerns are greatly appreciated

[Bradford Clark]

Originally, I had planned to just clean and paint. The more I think about it and run numbers, the more I think it’s a good idea to upgrade