I would also try to minimize expenses through decreasing cleaning costs, installing smart tech like a thermostat to control utility costs, etc.5.

Or is it better to utilize different strategies?

Tell the lender you want a construction loan online of credit.  

I've been running the numbers on different properties using a variety of online calculators for properties that I initially thought looked like there may be potential.

Cost segregation utilizes the MACRS approach.

Replacement homes will be climate hardened, smaller, functional and include consideration for the type of infrastructure, architecture and sustainable/durable materials utilized. 

You can also check their reviews online at Google, Facebook, or Yelp.

If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

When we purchased our laundromat, it had a strong brand and positive reviews online.

@Alecia Loveless is correct--tenants need access 24/7 to their electric service panel, water and heat, assuming those are individual utilities for each unit.