These improvements modernized the property and enhanced its market appeal.

These improvements modernized the property and enhanced its market appeal.

The strategic location and opportunity to enhance the property's value with minor improvements made it an appealing investment.

FYI you made capital improvements to the property.

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.

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

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.

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!