A pool can be a big liability, but can also be a bonus for the right tenant that is willing to pay extra for that amenity.

We will meet at different adaptive reuse location each meeting to see the transformation and discuss the opportunities, challenges, and rewards of this strategy.

Appreciation is a good bonus for long term but the deal is not a good deal if the Cash on Cash return is not there.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Similar for bathrooms if virtually all are multi bathroom but you find a single bathroom, making it multi bathroom via new construction could be a value add.There are more sophisticated value adds such as add multiple adus via bonus density program.  

I also would like to reduce the audit risk due to large bonus depreciation. 

Its a work in progress but fun to look back and see how the planning, education, and small actions have resulted in an amazing transformation of my lifestyle and wealth. 

The easiest thing to transform them into is storage unit places but there is only so much of that before you have an over supply.

@Greg StrunakA good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Most of the easy "lipstick on a pig" transformations are gone - you're often looking at more serious rehabs to make the numbers work.That said, we do have some advantages: strong rental market (lots of students, young professionals), still relatively affordable deals, and good appreciation potential in many neighborhoods.