I am not a developer , But down the street from one of my properties is a town house development .

I would make improvements to the property only when doing so would cost less than the value added to the property.

I use an excel sheet I created that includes the date, REPS category, property, description of activity/activities, the people / tools of the activity and the hours spent on the activity.

When it comes to multis, you'll also be able to add in your tenants rents as qualifying income on the property which helps tremendously.

But a really good property, for what you can afford, in a good location like Charleston and wait. 

Metro, and the expected spike in rent growth in the D.C. metro over the next few yearsSummary:After analyzing the data outlined below, I believe that investing in a value-add, multifamily property today has very strong potential for success.

Getting an appraiser out there in the property is always best while the property is vacant. 

One of our borrowers who successfully flips on the South Side (Dobson, Park Forest, etc.) is capitalizing on the abundance of discounted rehab properties (on market and off market via wholesalers and the such), which is a key strategy given rising rates. 

That said, you will need to make sure the property meets the definition of rural first.

I work with investors who are looking for LTR's with turn-key properties.