Prior BRRRR's I've done have been with a partner to split costs and spread the work between us.

Many threads comparing options exist on BP.

Which I would run the MIRR on that decision to compare it apples to apples.Question is… am I thinking about the use of this $50,000 correctly?

When doing market comps all amenities are used to compare with the units.

Once you pull MLS data you will see that as well. 5th ward -- is a step forward where you can still buy raw land  and build and sell with early adopters who wants to be close to downtown ( a bit higher price compare to acre homes and without govt assistance) .

I can price the same kitchen with that much spread just with high end cabinets, stone and tile compared to Home Depot crap.

My house should have a retail value of about $390K, has a tax assessed value of $364K, and other comparable homes in the area are selling in the $350+ range, and mine is on a double lot (2 acres).

However, I've put about 40K into the building in the past five years and the result is a nice, updated, prior duplex turned triplex. 

This is where you compare features (such as garages/pools/beds and baths etc.) of the subject property with the comps, assign a dollar amount to those features, and then adjust the sales price of the comps up or down as appropriate before calculating the subject's ARV based on those adjusted comps.This will hopefully help you nail down a more accurate ARV for your property.Feel free to reach out if you have any questions.

Theoretically, the current owners are being forced to pay the individual interest, because he is not allowing them to close on the sale of the property.None of this was disclosed to us prior to going under contract.