Sure it does dehumidify as a function of cooling, but not to the extent a dehumidifier does.Additionally, I get home from work and my apartment is a very cool 77 degrees.

Tenants are currently on a month to month lease and after the upgrades, I plan on raising rents from $1,000/mo to $1,300/mo (in thIs city you can’t raise rents by $600/mo overnight, it has to be step function).

In this case, I was thinking of it more in terms of functioning as a real estate agent, but without the license, which is kind of what wholesaling looks like. 

I function as a GP and we syndicate Multifamily Apartment Communities across the US in areas that are in the path of progress.

@Brad E.Try using the XIRR function in excel instead of IRR

It's more a function of interest cost that you'll want to look at, and how much interest is saved in that timeline.

The cities are right next door and function essentially as one community in most respects. 

I can't really speak into the actual legalities and logistics of it all just b/c I am not well versed in it...however, I did learn a lot about how it functions just by reading up on the lawsuit files that are posted publicly online.  

To echo what's already been said by some, your cash flow potential will be a function of your debt service, if any.

I got a Bachelor's in Finance so the valuation stuff has been a lot of fun to review.I also checked out the meet up function on biggerpockets and have already signed up to a cashflow seminar in September and a REIA meeting later this month!