FYI you made capital improvements to the property.

If you don't have the stomach for that, hire an excellent property manager and let them be the bad guy. 

I think you would have to force appreciation via property improvements to see any appreciation gains.

Their "asking amounts" have improved, but are still above pre-COVID times, when 1/2 month of rent seemed to usually work.

If they appreciate 2%, your return is now 9.5%.Adding some debt will improve your total returns.

Key details:- Existing debt: $2,038,000 at 3.8% with 7 years remaining- 92% of units already upgraded- Recently implemented RUBS program- Strong occupancy in a growth marketGiven the current debt structure and property improvements, this asset presents an attractive cash flow opportunity with potential for further optimization.

My jam is to build and improve to get better equity and cash flow through value add. 

When you turn a personal residence into a rental, you want to make sure you calculate your basis properly.Your basis will be purchase price + improvements made to the house since time of purchase(Assuming the FMV at time of conversion is atleast this amount).Best of luck!

Study prices in home improvement stores like Home Depot to get a good idea of what everything costs, and log it on a spreadsheet.

Following Lifestyles practices we improved our single family investing, started investing passively in multifamily, and now are syndicators of three apartments.