I would make the decision based on the math and protect for contingencies, i.e. make sure you have sufficient funds to complete the remodel (I like 2x to be safe) and have a plan if things get delayed or the market changes to make sure you don't get stuck with the higher rate for too long.

The remodeled houses in the same are which similar dimensions are normally good comps.

I'm a contractor and have done a lot of remodeling and have dealt with mold before.

One unit is completely remodeled and rented out, the other needs cosmetics and is vacant.

Although the properties are currently performing if I had to grab a number out the sky in terms of repairs/remodeling costs it was be around 40K-50K.

Also, to answer your question @Jared W Smith the remodel would be for a 2500 sq ft colonial, interior remodeling only.

Hi, I’m a new landlord and, just purchased a four Plex I’ve remodeled one side and left existing tenants in the other side.

We should have the "all clear" to start remodeling shortly. 

I work in the same office as them and our investor clients use them for remodeling and construction from the ground up.

Planning on doing a massive plumbing, electrical, and remodeling job for a 2 story mixed use building my family owns.