If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

.: @Don Konipol Hi Don, At the point where I am in my business, I am thinking (a lot) about improving and growing my business and profits.

Mello Roos are bonds that are floated to do off and on site development and then added to the tax bill. there is also 1915 act bonds etc.. if there was not the ability to float bonds CA would never have developed as it has as the up front captial for major improvements would have been a major stumbling block..

A potential challenge with a HELOCs is they are based on the current appraised value of your home, not the improved value, so you would need to make sure you have enough accessible equity.

Detroit offers solid cash flow potential, a relatively low barrier to entry, and the market fundamentals are improving with a growing population and significant investments in the city.Since you’re based in upstate NY, Detroit is also a quick and easy flight, making it easier to visit and get a feel for the market if you’re considering out-of-state investing.

Only about $3k was spent to make upgrades and improvements to the property.

Even if you believe you can stomach the monthly payments, paying $20K a year to carry a piece of land based on the information you shared is not recommended.

Plan to make some tenant improvements to push rents closer to market rate for the area.

I would want to make improvements to all units and increase the rent to market value when the renovations are completed.

Hey @Bailey Rentz, I'll say that we use QuickBooks Online exclusively for all of our Clients and they are constantly working to improve the bank feed feature and specifically the connections.