The biggest thing to me is buying in quality areas that will increase in value over time.

Here's a big "math" you overlooked for quite a few years.Right now $388k in equity, minus (let's go all out) $100k in closing costs, gets you a walk away of $288k in equity.Use that $288k as a 20% DP, and you should have $1.44M in property value,...not $415k. 

Purchase price: $169,000 Cash invested: $33,800 Property was recently renovated to increase the value of the property and the cashflow What made you interested in investing in this type of deal?

When you take that same 100k and buy RE, you can buy $500k worth of RE value. 

I wasn’t looking to add value or find something off-market because the time and effort just didn’t seem worth it compared to focusing on my career.

Also what does the city say is the assessed value of the property on your taxes (it will be different than the appraised value, but should give you an idea).

To refinance at 70% LTV (new value) you’d need a capital call of around 30-35% of the original equity raise.

Work with your CPA to allocate more value to land and structure.

Spending $15,000 on minor updates in a Hyde Park two-flat could raise the rental unit's value by $300/month.5.

.- Value add - How much does it cost to build additional storage units?