It barely scratches the surface. 

Assuming you're contracting it out make sure you get multiple bids and I'd do the bare minimum inside or do that yourself (unless you're going to make it a hangout spot as a feature for guests - could also do this over time as you see increased cash flow).

Thought about using that equity to buy a larger apartment complex but from what I've seen most of them in my price range <3m barely service the debt. 

With your one home barely being cash flow positive, but had a large amount of equity, we were able to move you into four excellent cash flowing properties that offered much higher returns, and increased your passive income.  

This isn’t just good news; it’s the biggest monthly leap we’ve seen in a year, and it’s even left the experts pleasantly surprised.Let’s Break Down What’s HappeningHere’s a quick snapshot of the latest trends that show the market's heating up just in time for the spring selling season:- New Listings: Barely nudged up by 0.1 percent to 680.

Nothing fancy just bare minimum with the cheapest material.

In the end, we managed to close the deal, but just barely.

The average age of the number 1 single family home owner is greater than 2010 and less than 15 years old and they are now building homes new construction and owning them. the exact opposite of your strategy. older homes are the cheaper ones and unless you have experience I'd build in columbus close to downtown. same reason Toledo and Cleveland don't move the needle and there aren't 100 institutions in those markets. columbus is barely on the radar. 

At a bare minimum I would terminate the current lease and rewrite a new one that meets your expectations.

A lot of the notes are going to be on bare land though..