How much will it increase your expenses?

Structural (brick) changes/repairs could increase these costs.Knob and Tube Rewiring: Rewiring a house to replace knob and tube wiring is indeed costly, particularly for a complete job.

It's more than just professional photography, cohesive and attractive design/decor and investing in amenities.

And if you have the budget for it, I recommend furnishing the rental because it will increase the income you can make on it.

What would it need to increase in value?

This is the manual input in your underwriting model that reflects the percentage increase your rents will grow each year.Unusually high organic rent growth inputs can be dangerous because it has a compounding effect.Organic rent growth has a compounding effect in your underwriting model.

Columbus has experienced so much growth for the past few years, partly due to the influx of tech giants like Intel ($20 billion), Meta, Amazon, and Google building warehouses and data centers in the area, which has contributed to an increase in property prices and more people moving into the city for job opportunities.

"Creating an aesthetically appealing rental property is essential for attracting tenants and increasing property value.

We increased the rent day 1 and redid the electrical work.

The big issue is it could cause an electrical fire down the road.Not to fear monger, but my "yardstick" is how some insurance companies won't insure with knob and tube, or those that do increase the premium.You may see it in the attic and basement, but I'm guessing its in the walls otherwise how else would you have electrical sockets.Just realize that addressing the knob and tube and bring the house to "current code" can be a bigger job than you realize.