It's not an expensive upgrade. 

I've spent aproximatly 61.5K on expenses over the years, Interest, Property Tax, Isurance, HOA and various repairs and upgrades.

I’ve developed a Comprehensive Investor Report (CIR) for a property in Palm Coast, FL, designed to be transformed into a luxury rental asset while serving as the foundation for a scalable asset management strategy.Here’s a quick snapshot of the deal:Property: Red Birch Lane, Palm Coast, FLCurrent Value: $350,000+Mortgage Balance: $165,000Current Equity: $185,000Investment Required: $177,500 (for luxury upgrades and optimization)Projected Monthly Rent: $4,500 with 2% annual increasesTarget ROI: Full 1.5x ROI for investors achieved in 9 yearsLuxury Features: Smart home automation, designer finishes, professional-grade kitchen appliances, and more.I’ve also structured a capital distribution plan with a waterfall approach:8% Preferred Return for investors.Full Return of Capital to investors before profit splits.Post-ROI, a 20/80 split (Investor/Management) ensures long-term alignment.

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

Take the time to break down what needs to be repaired and what upgrades you will be doing.

For properties that need upgrades, rehab or furniture, investors will need the time or team to execute. - Performance expectations.

I would be more hesitant if they were added on (new plumbing and electrical) vs just upgrades to existing.

It's likely you'll be able to raise the rent as well with the upgraded unit and you can look to market it during the time of rehab. 

Slowly working on updating and upgrading the house.

Will you look to upgrade the property and then refi in the future?