If you have units to remodel and are updating you can offer the senior tenant to move to the nicer unit and raise the rent, you can incrementally raise the rent, or maybe you can rent the other two for above market to make of the cost of the senior rent.

It amazes me how much random transient travel it gets(bowling tournaments, pawn shop remodels, manufacturing employees, traveling photographers, etc). 

Good thing is they don't have rules about the interior remodeling (except the regular county permitting process).

I plan on having kitchen remodeled, new flooring out in, and a wall removed.

Hey @Aaron Gordon congratulations on getting started on your real estate journey here in RI.Starting off with a live-in remodel is definitely a way to fast track your real estate experience.

Most assignors in my area of Texas have virtually no concept of the real costs associated with an investment, including acquisition, hold, remodel and sale costs.

We recently bought a duplex and are almost done remodeling it to get us to where rents need to be for that A or B class tenant.I personally find that due to long term buy & hold in this area, it’s just enough to break even for first year or two.  

I would say a complete home remodel definitely has challenges.

We have 10 properties in total on our 'resume.'  5 SFRs that were bought, remodeled, and sold.  4 30+ unit buildings with heavy capex (north of 300K) and a completed ground up construction of the exact unit I am trying to get financing on now.  

We fully remodeled two of them, taking them down to the studs.