While this would improve the cashflow and cap rate for resale, I'm wondering if it would shrink my market of buyers, since they could no longer use conventional financing as it would no longer conform to a 2-4 unit building.

My focus was not just on improving the property, but on ensuring it would become a desirable asset in the market.The Transformation:As the renovations wrapped up and the property was brought to its full potential, the results spoke volumes.

I suggest conducting a cost segregation study on both the acquisition and improvements. 

Councilman Eric Arias highlighted the substantial state and federal grants to improve infrastructure.However, residents voiced concerns about persistent problems such as a nearby wastewater plant's odor, inadequate lighting, and speeding trucks.

They build and invest to help improve the area, bring in better tenant pool, improve the economy and hopefully at the end of the day make a profit on the hard work, time, and money spent on that new development.  

For us there is a balancing act of improvements for guest experience, with functional improvements.

We over improved our first 2 houses because we thought every little thing had to be perfect.

It will be what they purchased it for plus any improvements they have done to it. 

If the property is located in an official urban redevelopment or urban renewal district, you can recover the value of ALL improvements, not just repairs.  

It is good practice to obtain the L&I affidavit of continuous use from the seller as this can sometimes improve the chances of securing the rental license even if more than 3 years has lapsed.To demonstrate the uncertainty of L&I when rental licenses have lapsed for more than 3 consecutive years I will share a recent transaction of mine.