Then over the course of the first year or so, if you could raise the rents by a total of $1k/mo (they are currently $2k, $1k, and $1k), then you might be able to pull out about $60k-$80k in a cash out refi. 

I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

Unless your digging deep in that file and pulling from when the game was most similar to todays. 

For example, incorporating energy-efficient solutions and smart home technology has been a game-changer in similar markets, especially when paired with features like office spaces that cater to remote workers.As for potential add-ons, corporate housing partnerships are a brilliant suggestion!

HvAC guys, plumbers and electricians are busy but licensed so no huge risk especially if you pull permits and have work inspected.

I have heard the 16% solution mentioned. 

You will need to work out a mutually-agreeable solution. 

You need the right solution for your day to day operations.Your need is to make the management side easy, so that you can analysis your accounting, business and management all with only one entry.

In addtion when the net investment property is ready or on the ARV you can do the same thing pull cash out and pay off the original amount and use the rest for another down payment.