I have improved fair rental value and value by increasing the kitchen size; adding an island tearing down walls between the kitchen and dining area and living area, etc.It all depends on the particular property. 

@Sharad ReddyI used to live in Davis and the area has had strong appreciation and consistent demand with the university and primary schools. 

Both my aunt and my mother’s husband have expressed their willingness to remove their names from the title, granting sole ownership to my mother.My mother is interested in transferring ownership of the property to me and allowing me to live there.

I live in Upstate New York but i was thinking of areas more out west or down south.

I've lived in Fishers/Carmel my entire life and know the market well. 

I also live in Snohomish County.

Many DSCR programs require an investor to have a mortgage history- there are some DSCR mortgage programs that will work with investors who are renting- some refer to them as first time home buyers (FTHBs)- DSCR loans are only for investment properties where the owner isn't living there. 

I don't think making this a nice remodel is going to help since you're likely not attracting the caliber tenants that's willing to pay more for something nicer... that tenant is looking to live in this area.Now, if you went the Section 8 route you might be able to push to the $1,300 - $1,400/mo range.

Are you looking to house hack by living in one unit and renting out the others?

I’ve been around real estate for decades, and I read in The Economist once that in lively markets like Charlotte, folks will pay a premium for a comfortable room if you’re near major employers.A friend of mine tried something similar out in Austin a while back.. he’d inherited a 4-bedroom property and split it into individual room rentals.