Consider FHA loans for lower down payments and reserve for repairs or upgrades.

Keep rents lower than the going rate and give them an incentive to stay like no pet fees or upgrades to the homes.

Don't be obnoxious, but a few open ended questions may give you good insight into what your unit may be lacking and what people do like about it, to help drive future upgrades and marketing, and maybe help compensate for a shortcoming in the short term too.

One way to get tax benefits while you're living there could be installing solar panels or upgrading the energy efficiency of the home. 

If you're considering BRRRR, the FHA 203(k) loan could work for bundled purchase and renovation, but it’s often simpler to use personal funds for lighter rehab projects.You could focus on properties with strong rental potential and manageable upgrades to increase value.

Also hoping that since it’s an 1 year old home, other than minor cosmetic upgrades like design, not much to do.

Choose a HELOC if the property is appreciating and cash flow remains strong, or a 1031 if you want to diversify or upgrade assets.This post does not create a CPA-Client relationship.

Many things like electrical can often be upgraded.

You are talking about a new water service line upgrade right?

But after enduring my first construction loan gut renovation, along with a couple of other partial ones, this issue has been one of my primary mental obstacles.