I was told it was due to the value increasing

Personally I'd rather sell or trade down @Bob Willis. if I needed to increase my lifestyle which I don't.

The multi-family market has remained strong, and if rates decrease I think we see more buyers in the market irregardless of property tax increases.

The property had good bones and a solid structure, making it a great candidate for renovations that could increase its value.

The property had good bones and a solid structure, making it a great candidate for renovations that could increase its value.

I have not increased their rent (although I should have).

If it were zer0 dollars out of pocket without increasing the loan amount, it seems like a no brainer, but increasing the loan has me skeptical.

You would ideally want to buy in the downmarket for below market price (around this time of the year since its more of a buyers market) and then sell in spring when values are going to be increased and also have a sellers market (you could sell for above market price).

There are going to be three levels of addressing this 1) things you can simply go there and do anytime (pick up pet waste and throw it away) 2) things you can do given proper notice (enter the unit and inspect, repair damage etc) and 3) things you can only do given proper process/procedure (notice to vacate, increase rent etc.)

I double "co-hosters" in most markets are getting 25-30%.If property management interests you I would suggest you become a licensed and insured PM company to increase your credibility.