Upgraded kitchen features custom cabinets, granite counters, pantry, and a full bath downstairs.

Minor cosmetic upgrades and water softener system.

Minor cosmetic upgrades and water softener system.

Minor cosmetic upgrades and water softener system.

Minor cosmetic upgrades and water softener system.

Now, that being said, if rents are currently $700 I imagine a few cheap upgrades and you’ll be able to raise those at turnover.

I describe it as a Ladder of MF and the returns have been much better than bonds.I am a long-term Brad Sumrok student, which gives me access to many deals from many sponsors, who he has trained, in his "eco-System" (I call it Sumrok Institute of Multifamily). 

I know this is a little off track from your question; but if people truly want to control expenses they would stop upgrading their homes and lifestyle to match their paychecks.

If you are changing electric panel look at if you might want to add circuits to the house, like for a kitchen upgrade, or house addition.You might get a bigger panel while you are at it, in that case.

We also have learned to do several cosmetic upgrades on our own, and (somewhat by accident) have done live in flips for three units.