I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

That's one of the 'fun' bits of being a landlord.

In my area a layperson can appeal; it is a 5 minute hearing but you can also get your taxes increased in appeal, fun right? 

If you do not have 300k income you are not even allowed to participate at Accredited-Investor only Investment.It's just matter of time until the authority comes and investigate more private investment that involves public/investors money.I am also involved in certain clawback litigation against previous quite-famous-syndication that was under SEC receivership now.It's fun to watch how the GP has to sold all their Rolex watches to bring back the money back to investor.

Why would you leave an income source that can further investments, fun, etc.

If you get a lot of properties it would be fun to have the first tab pulling data for metrics on portfolio performance, monthly cash flow, expenses, etc.

This campus hosts a large Magnolia home goods store, high end furniture store, cupcake bakery, coffee shop, gardening shop, live music concert venue, large grass area with toys and balls for kids to play with, an open plaza with eight food trucks, a small baseball field (that Babe Ruth once played on and families can now play on for fun), a restored historic chapel (the oldest chapel in Central Texas), and six boutique shops with men, women, and children's products.

I started the company at 19 and cohosting has been such a wonderful experience, fun and lucrative.

REI is really fun.  

@Long Wong my experience is that it doesn't have a huge impact on rent if the location is strong enough.I think it it is across the street from the football stadium or 20 bars then I think you can max out the rent regardless.If it's further away from "fun" then I would consider adding bathrooms.