Upgrading HVAC costs about $10k with electrical upgrades.

We had to replace 90% of the electrical, created an open concept, primarily all new drywall, new boiler, new roof, etc.

(The power company in MN will offer you a chance to buy the warranty after the furnace/ac is broken and come back the next day to fix for free.)

BRRRR is such a powerful tool that it makes sense to apply it to single-family homes (SFH) early on, then leverage those skills and capital to take on the other asset classes you mentioned.

Upgrades included modernizing interiors, updating plumbing and electrical, and enhancing curb appeal.

The renovation process included modernizing outdated features, updating plumbing and electrical systems, and enhancing curb appeal.

I'd say visitors do usually use more power than you'd think but that does seem somewhat high.

As you embark on this journey, you'll learn the importance of market research, the art of negotiation, and the power of leveraging assets.

Here are some trends that could play out, or further develop in 2025.Leasing & Tenant Experience AI-Powered Leasing: Chatbots and AI tools will streamline leasing processes, from answering tenant inquiries to scheduling tours.Virtual Tours & Digital Leasing: These will become even more standard, making it easier for tenants to rent remotely.TechnologySmart Property Management: IoT devices (smart locks, thermostats, etc.) will become more common, improving efficiency and tenant satisfaction.Property Management Software: Platforms will integrate more AI for predictive maintenance, rent collection, and financial reporting.SustainabilityGreen building practices and energy-efficient upgrades will be a major focus, driven by tenant demand and potential incentives.AI & AutomationAI will play a bigger role in tenant screening, rent pricing optimization, and even predicting market trends.Automation will handle repetitive tasks like maintenance requests and lease renewals, freeing up PMs for higher-level activities.I'm sure there are plenty more shifting trends that I haven't mentioned and that are sure to evolve over the next year. 

Old skool K&T systems are simply not designed for the electrical loads that houses have today.