Hello,Still very new.I am at the point now where I’ve completed renovations to my Grandmother’s old house. Inside has been completely upgraded. Outside of house pressure washed (brick) and new coats of paint applied...

Before you increase rent I would suggest you go in and fix the exterior like a new roof, siding, windows, exterior doors, driveway, landscaping.

@Kishore Ginjupalli in your pro forma I would also assume that insurance is going to rise quite a bit, estimate higher snow removal and lawn/landscaping maintenance and any other expense that uses labor as those services are going to continue to go up with labor shortages and higher wages.

I get the argument of commercial being riskier based on the longer lease and the lease options though one must consider that in much commercial the tenant pays the property taxes, insurance landscaping, all utilities, etc. - in our industrial we are responsible for the walls and the roof (though having multiple tenants can make this trickier - for instance in one warehouse we have 4-5 tenants on the bottom floor and so we pay the water and electric - not ideal).Point is, some commercial has zero to little cost VS residential/MF. 

Fence and landscaping.

I run a decent sized landscaping business and moved it to five acres in the back of the property last July so we are growing trees and by doing so are technically using it as farm use to get the property tax deferral.

They keep it up nice, maintain it outside, add landscaping and so on.

Some have a clubhouse, pool, gates, and shared landscaping.

We also put in some rocks for landscaping in the front yard.

Last year I was living at a house that went through a full landscaping renovation that I got to help with..the before/after results were incredible.