It is so refreshing to be amongst like minded individuals. 

@Steven Wilson Yes it is very refreshing to see more value being added.

The apartment is probably going to need a refresh anyway, and I’d rather have the money in my pocket as opposed to having to give it back - not being able to prove that they broke the closet door, etc.

Increased rents, introduced new revenue streams and drove NOI up materially by renovating/refreshing units.

@Neil G.kudos for putting it all out there, your financial breakout and listing is refreshing and helpful us all in understanding what might be going on. 

Might give it another go as a refresher.

Since you are focused on buy and hold, I added the below links to refresh your memory as you ponder your next purchase.https://www.biggerpockets.com/renewsblog/2015/05/26/real-estate-financing/ (RE financing)https://www.biggerpockets.com/renewsblog/2015/03/27/financing-options-rental-property-guide/ (financing options for rentals)https://www.biggerpockets.com/renewsblog/2014/03/06/bp-podcast-060-serge-shukhat/ (0-68 rentals in 4 years) https://www.biggerpockets.com/renewsblog/2014/08/02/passive-real-estate-investing/ (slowly building wealth through passive investing)https://www.biggerpockets.com/renewsblog/2015/09/30/bought-rehabbed-rented-refinanced-14-properties/ (BRRRR explained)http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)To be more successful, you simply have to work on the other elements to progress your REI pursuit.

It is refreshing to hear you say there will always be risk and the 'what-ifs' never go away.

It is refreshing to see someone else that sees the "bigger picture" and realizes that cutting benefits can hurt everyone.

Though somebody better vesed than me in license law (lol) may be able to refresh my memory if a business for profit is required to be licensed.