This may be expensive and not worth it but having it legally split, may also increase value. 

They all left at the first sniff of an increase despite still being below market and they were all pretty upset about it.

Low vacancy, tax increase, interest rate increases and insurance increases.

But just like a lot of things, what is increasing here, could be decreasing in a few cities over.

Best Value adds are:Updated kitchen, updated bathrooms, cosmetic remodels.Additional bathrooms - finished basement spaces, in unit washer dryer, central air, additions/alterations.All of those are useless though if your roof is 30 years old, your mechanicals are from pre 1950's, and your home is in dire need to be renovated "behind the walls"Otherwise the above will increase your value but you will be left with Lipstick on a Pig

Routine maintenance and unforseen maintenance costs; insurance rates (they are increasing all over), property taxes and vacancy rate.

Additionally, the property includes an outdoor swimming pool.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

That would mean in so so years networth would increase by $600K if my maths are correct lol.

If you choose to set it up in Illinois (IL) and then file as a foreign entity in MI, you will end up paying two state filing fees, which unnecessarily increases your costs.

See this next link where the IRS lien myth gets busted:https://www.biggerpockets.com/forums/311/topics/91948-buying-hoa-liens?