Improvements:  ADDING new features or upgrading an existing feature.eg:  Old window may be a single pane casement style (crank to open) and the upgrade may be to a dual or triple pane, eGlass with Argon fill replacement.That's an improvement, a capital expenditure and amortized.

For example, when looking at a triple-net lease property with a credit tenant, most investors we encounter will accept a lower IRR; if the property presents some significant long-term risk, then they will generally expect higher -- and will generally be less tolerant of dicey cash flow projections.

Hello there evafla-I would kill for 400k to invest with in fact with that kind of money and the average knowledge of BP's members you could triple (or possibly more than that) your profits in one year!

Keep in mind that they "forget" half of the things that need repairs or simple don't know so when you do it like that there tends to be a lot more "re-negotiation" once you find out your repair estimate doubles or triples.  

My business tripled the first year out of my basement. 12 years later, I'm fortunate to have 3 offices, 2 here and 1 in Manhattan.

Also,  if you're doing rehabs, double or triple your rehab budget,  you'll likely find some unwelcome surprises!

I have formed a Wyoming LLC that owns a Illinois LLC.Currently the value of both of my properties, upon completion, will be over triple my purchase price and likely double the price + investment.

Chastain lot prices are double, the costs are double, and the profit is triple based on houses I've walked but that requires over $1m in capital/financing.

Which would slightly better than triple the rent roll and expenses.The Value per unit if I wanted to sell them separately at completion would be 115K per unit.

I use 3x total rent is required for one of the applicants or if none meet that then 2x for double and 1.5x triple or more.