I haven't seen any multi-family units around here on the market but again I haven't really made a conscious effort to look.

Definetly wasn’t trying to do anything illegal ( at least consciously).

It does need to be painted (inside), new flooring and could use an update on the kitchen, although I see one selling at the moment with no upgraded kitchen for $112,000.

Lip stick only, some major repairs, upgrades, etc? 

Hello -I will be be closing on a 3 Fam property within 2 weeks in the Bloomfield, NJ area and am looking for recommendations for contractors that can help with an upgrade in one of the units.

@Jeremy Swanson I think you should definitely evaluate any potential upgrade to see how much you can raise rents and how long it would take to recoup your capital.

Unfortunately, these upgrades will require that the elevator be inaccessible for 6 weeks beginning XX/XX/XXXX.

Our current home would rent for 2k and our piti would be 1600ish.I know we may have to live here a year or so after the refi before we could turn it into a rental which is ok, we’re not in a rush.New home would be an upgrade likely in the 500k range with 100k down. 

He keeps his income stream without having to manage the property anymore, you get the property and can upgrade it.If you can successfully upgrade one unit and the exterior and show the increased rent follows, it might be easier to get an investor to help with the others.

Our family is growing and we're looking at upgrading to a larger home.