@Sean Conroy, this really depends on two things: first, the land zoned in a way that you can subdivide and build more units (question for building/zoning department) and second, financial returns on doing this versus using the capital to buy.New construction certainly has its advantages on the operating side, and can often get a premium to remodeled, older units.  

Rent it cheaper for 4-6 months to get through the winter, then rent it for a higher price or sell it in the spring.I recommend selling because you don't have a good property manager and the market is obviously not strong there.Thanks @Nathan GesnerI dropped the price from $2100 to $1975 but it’s not moving the needle too much.I am prepared to go lower , however , worried about what kind of tenants we’ll get at a very low rent like $1700 or $1600…4 years ago we rented for $1400 ( to friends) then we went up to $1500 for next tenant, then  $2400 for the last tenants ( we did some remodeling on property to justify that last rent ) Hard to go back down to those lower #’s but not getting qualified bites at all now that we are heading into winter ( as you pointed out )..been at $1975 for three days now ..

Hello, I own a plumbing company with 40 + employees and mostly work under contractors that do remodel, new construction and commercial work.

Hello everyone, I am doing some tenant turn over remodeling on a rental property.

That's how I bought my first house and completed a remodel.

Before I rent a place it functions perfectly and they are remodeled with the idea that I'm renting to knuckleheads, so all things are accessible, repairable, common, and not high value.

If you buy an outdated smaller 2bd/1ba home for $150,000 in an area where remodeled 3bd/2ba homes are selling for $300,000, and you know it will cost $50,000 to update the home and add an extra bedroom and bathroom, you can be relatively sure you will be able to recoup your investment. 

You will know that the remodels are done well/properly, so you can hire out the PM piece and move forward. 

I started building in 2020 and prefer it now over remodeling in many regards.

Hey so I just closed on a property in Polk County FL my mortgage is $1535 average rent in the area is $1500–1800 I have a freshly renovated house with 3b 2 ba 966 sqft I listed it on the higher side since it’s remodeled for $2100 I only had one person reach out to me and they were telling me the price is to high and I have not had any applicants I just paid for advertising on Zillow today and I posted the property yesterday I cover water and the property comes with washer and dryer hooks, loose pet policy and there is a laundry mat directly behind it.