Kevin,Just based on the numbers you could take cash out of both properties and reduce both rates. 

Here are some thoughts:1) The traffic issue with the pet business is definitely something to consider. 2) Some may differ with me on whether a pet business is an "essential business" and how it will do in the next pandemic spike, but that would also be a concern.3) Having three tenants in the building instead of two will also reduce risk.4) The buildout that the pet business does may not be easily used by the tenant that moves in after them.Hope this helps,

We go through and replace them with LED bulbs for energy savings and then tout that when showing the property.

Here are the first things that come to mind- however it is important to understand that RE is a long term game and in order to get something of value something of value has to be given whether that is time, energy, or money, etc. 

You can still set aside money as eventual equity into the deal, but keeping it as cash opens more options and reduces your monthly expenses.

A buyer may look at that as another $10-15k in down payment-like money to buy the property which will reduce your selling price and buyer prospect pool. 

@Paul E Romero Getting a full property inspection and an appraisal (which a lender will require) will reduce your chances of getting ripped off significantly.

And local dynamics are not as important of MFH as they would be on SFH, you can force your appreciation anywhere in the country as long as you're improving the income and/or reducing the expenses. 

@Shivam Mehrotra It probably had something to do with this:• Local Property Tax Credits – Relief credit generated by the local income tax, which can be used to reduce property tax bills.If you're looking at said property as a investment don't expect to receive those credits.

Plus at places like KW, there are ways to reduce your split and maybe even take home more than you pay.