To assess what type of upgrades to do and which will return for you - do some research into what other rentals in the area are renting for and scope of renovations they have - i.e. if the comparable rentals all have painted the 1970 cabinets - then you can do similar and not drop $40k+ on  full gut/ remodel.

For example, my Zestimate was low because it didn't know about the addition, full remodel, and garage conversion into an ADU.

Several things make this my best investment strategy.Obviously, the problem (that I am currently working on) is to find a financial institution (private lenders are too much expensive) that is willing to refinance a property just after the purchase/remodeling/rent.

Remodeled cosmetically mostly while living there.

Remodeled cosmetically mostly while living there.

We hired a plumber (that we have used for years) to fix a tub spout leak and toilet repair.

I probably would quality for being a trade or business with the amount of hours I put in remodeling and such but since I don't have logs for the past 4 years (since I've had my rentals for much longer), it would be at least 3 to 4 more years before I'd qualify for that.

No matter what the current only bathroom needs remodeled asap due to water damage starting.. thoughts on navigating that with a current tenant?

You will also have an issue with floors not completed, holes or missing drywall, missing toilets, sinks, etc...Most of it can be fixed but it does cost money if you allow the appraiser to go out to inspect and if any of the above is missing or damaged.

I am in the remodeling my rental property.