We expanded to new markets, bringing on Dan Toback to lead a new division in Florida.At the beginning of 2023, we ended our successful journey in Western New York, replaced it with Florida, and despite the challenging times with record-high interest rates, we were still able to complete 78 deals between our Florida and NH markets. 2024 continues to bring its own challenges, forcing us to grow and improve.

I suspect even if it is an improvement I could likely expense it under the Deminimis Safe Harbor if under 2.5K anyway?  

Am I thinking of converting this property for SRO/PadSplit model where refinancing may be harder to do because of property improvements I have made?

That could drastically improve the ARV. 

Issues like contractor delays, supply shortages, or unforeseen repairs can extend your timeline, which adds to your holding costs (mortgage, utilities, etc.).Tip: Factor in extra time for delays and have a backup plan to stay on track.Over-Renovating: Many new investors fall into the trap of over-improving a property, especially when they try to bring in their own taste.

Anything less is not an ideal tenant and could potentially be improved.  

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As an agent myself, I always try to improve, and at https://smartagentalliance.com/ I get the guidance I need.

Boat and RV storage is at a premium for many people so you have a good idea to use existing land to generate income without doing too much in the way of improvements.

A 3-year or longer term gives buyers more time to improve finances, but requires the seller to wait longer.