I normally advise buyers you don't want to rehab to get rent ready before the 2 year issue is resolved, because the previous owner would not need to pay you for the updates/upgrades/reno. 

It seems as if there will be some upgrading of the units, are you anticipating a sale or refinancing out of the subject to different mortgage afterwards or is that the long term debt instrument you want to keep?

I've literally seen friends and family attend seminars and sign up for a similar price from well known gurus but, they only receive pieces of the information in the course and need to up grade for thousands more in order to get the full value of what they've already purchased.

The only people still crushing STR are the ones who are upgrading their amenities, services, and ambience.

Have a checklist and check it off one by one to make sure you don't miss any upgrades you have made.

Avoid Over-Improving:Avoid making luxury upgrades that don't add significant rental value.

I'm trying to grow my portfolio, so my money is spent either on new properties, or upgrading existing one's. 

If you have the bandwith, adding bedrooms/bathrooms or a new HVAC can significantly increase ARV.First-timers often over-focus on minor cosmetic changes like new paint, luxury upgrades that aren't necessary for the area, and personal preferences that don't align with market trends.Let me know if you have further questions.Good luck!

The renovation will trigger upgrades to the systems. 

Holding on to it with painting of the interior and upgrades to countertops to be granite.