The services should be to help maximize cash-flow and minimize associated fees to increase a repeat client pool.

@Frank V.I would put down 100k on a value add MF, add-value, refinance it, hold for cash flow and market rent increases, then take the capital and do it over and over!

It will also limit your access to financing and may increase some other administrative chores.Using LLC is an excellent tool for asset protection.

@Chris Roche properties values in Nashville have increased faster than rental rates. 

For example, if you see 3% appreciation, your paid-off property increases in value by $3k, your leveraged properties increase in value by $12k--quadrupling your Return on Equity (ROE).

Reason why we are asking, is the appraiser will need to justify how value increased by $33.5k.We did a few upgrade ourselves but nothing major that needed a contractor; mostly clean up, fixing fences, changing bathroom hardware, etc. 

Now with time and rent growth, what could be a negative cash flow property might very well become a cash flow king, but that takes patience.Another way to increase cash flow would be renting out rooms in the unit you live in, either Airbnb or longer term.

The downside is added work, increased taxes probably. 

(Supply is also going up, but not fast enough to stop the rate of rental increase.)

Numbers appear high level comparable to the ones above, though both purchase price and renovation need to be financed on hard money, significantly increasing the carry costs.