Quote from @Daniel Rabinov: I’m new to REI currently looking to acquire multifamily properties in the North Miami Beach, Aventura, and Hollywood areas that meet the following criteria:Price per Unit: Maximum $250,000 (4 PLEX MAX 1M)Cap Rate: 7.5% or higher as-is not pro formaValue-Add Potential: Properties that offer the opportunity to renovate, improve, and increase rents or overall property value.My focus is on underperforming properties with strong fundamentals that are located in these markets.

Look for areas with planned infrastructure improvements or new business development—these are signs of future growth.4.

I have slowly worked on improving management to increase cash flow from $0 to ~$800/month currently.

For example, I want to know the cost needed to do a basic improvement (for a rental), a medium level improvement (live there) or a luxury rehab (use it as an airbnb).

If you are a licensed contractor for instance and capable of major remodeling projects as your trade, this would be considered adding value to the property and would risk IRS action.Sounds like "improving" or "upgrading" the place is not allowed.

I currently work as a consultant, on a project that deals with a lot of risk assessment, identifying pain points for my client in areas of improvement, along with these types tasks, there is a lot of tracking and monitoring of multiple different requests that are going on at one time, as well as having to manage my team and personal to ensure we are meeting all necessary suspenses.

HUGE linePNC Bank best for small home improvements $10k up. 7 to 10 yr draw.

These situations are always tough but if you are improving the property, I think you have every right to increase the rent. 

How much do improvements cost?

I understand that there are potential self storage facilities that can return 20% cash on cash if improvements can be made.