If your unit is more B/C class where you can attract lots of decent hard working entry level to middle class workers then I would focus on improving the units to capture those kinds of tenants and oust the trouble makers you have. 

Still learning a lot as we continue to grow and improve. 

However, if the renovation significantly improved or upgraded the property, you might need to capitalize it as an improvement, depreciating it over 27.5 years.If this was STR, you could write off the improvement under bonus depreciation as well.

I told them I would bring them extra flashlights, batteries and water but they should get themselves perishables.  

You can influence your investment's performance through property improvements, rent adjustments, and savvy management... something you can't quite do with an annuity tied to obscure indexes.An Individual Retirement Account (IRA), particularly a Self-Directed IRA, can be used to invest in real estate and employ leverage to potentially enhance returns.

I’ve been in the market for two years now, and while the learning curve has been steep, especially in the NJ market, I’m committed to growing and improving every day.I primarily worked with buyers, many of whom were family and friends.

I am excited to hear of their improvement and hope it will work for me.

If there is no problem then the HELOC will provide more flexibility since the cash out re-fi may yield more proceeds after improvements when applying the 70 or 80% LTV limit whereas you might get improvement proceeds from an investment loan but you won't want to because there will be a lot of red tape, inspections, draws, lien waiver compliance and a lot of other crap they load onto improvement loans on investment property.

Having the right team is 100% your best strategy to win in Real Estate, especially with a Renovation Loan that allows you to purchase a home as-is and make all repairs/improvements post closing with budget (money) in the bank, ready to go the day after closing.

There's a price/rent lag because leases are typically for a year so there's the delayed effect of old leases playing out before upward pressure on rents does it's thing.With that said, there's also your ability to refinance out of that rate and improve the rentability of it that way.