Hi Ryan, If the comps support 175K ARV by those upgrades you mentioned, then you can be optimistic because they're obviously selling for that price.

I want to do the upgrades with resale in mind.

If they are *good* comps (within 1/2 mile, sold in the last 6 months, same basic floor plan, same basic vintage, same basic upgrades, same side of the freeway or river, or mall etc) then 3 is fine.

Probably the biggest red flag is that even with improved rents I'm only seeing a gross noi of 5.4% on asset value and after allowances, expenses, and costs to upgrade it's probably well south of that.I like your thinking. 

The Smiths purchase the house and then upgrade their countertops for $10,000. 

All new plumbing sink and faucetsElectricalThere are 2 old 60 amp services that need to be completely upgraded to a 200 amp service.

I plan on making upgrades to a 3 bedroom, 1 full bathroom, 1 half bathroom home and I was wondering what are the best upgrades to perform in order to increase the value of the home.

The property itself isn't in bad shape, but it hasn't been upgraded.

We have sunk tens of thousands of dollars into upgrades and repairs to make the properties nicer.

Just remember, if you plan to grow your portfolio you'll eventually need to upgrade to something else.