Keep your powder dry and just put in what's required.

Now, I do already have a lot of dry powder for another correction, but I’m trying to bolster my cash position as much as possible.

In my opinion, I would go with the 3 bd and add a powder room if possible.

The outside of the house, left the roof, which was in decent shape, fixed all the original wood windows and painted them, added mini-split HVAC system and removed the gas wall heaters, paint and wall repair inside, back powder room taken down to the studs, new lighting throughout.

Hopefully you can save that dry powder for when valuations come back in line!

There are lots of different ACs that you could add, but I would only do so after structural issues are addressed.Plus, from the sound of it, you're going to face some unknown hurdles, so keep your powder dry.

Run a lot of small tests and keep enough gun powder to GO BIG when you find a successful recipe.

Focusing on debt repayment so I have plenty of equity and “dry powder” when we do see a pull back, the lack of inventory is the big issue, and by building I’m trying to help that, but cost to build is high compared to incomes, so it’s a difficult spot right now, but I think it will be changing in the coming years.

If you haven't looked at a 100 deals yet keep your powder dry and underwrite more opportunities.  

Home improvement projects and private school tuition for my 3 ragamuffins are burning up most of my dry powder for RE investing in 2018