All new flooring, updated heating, added a 4th bedroom, two new bathrooms, and fresh paint throughout.

I agree with Robert Freeborn, if you can't stand the heat then just get out of the kitchen. 

Total Loan  $ 94,500.00 % Down Payment 25.00% Down Payment $ 23,625 Remainder of closing costs $5,500.00 Cash at Closing (Renovation Cost) $0.00 Total Due at Signing $ 29,125 Mortgage Rate 5.50% Length of Mortgage in years 30 Monthly Mortgage payment $402.42 Taxes $ 250.67 Sewer and Water $ 125.00 Trash $ 100.00 Heat/Utilities $ 25.00 HOA/Legal $ 8.50 Cap Ex and Ops $ 300.00 Insurance $ 125.00 Mgmt Fee $ 240.00 Vacancy $ 194.40 Total Expenses $1,770.99 Unit 1 $ 800.00 Unit 2 $ 800.00 Unit 3 $ 800.00 Total Revenue $ 2,400.00 Cashflow/month $ 629.01 Cashflow/year $ 7,548.15 Cash on Cash Return 25.92% The place is along the lower, main street in St J. 

Are you aware of the adjustment amount for each value adjustment: Room count, basement & finished, heating/cooling, garage/carport, quality of construction, etc.?

Few expenses missing assuming SFH:Vacancy Utility cost - Heat, Electricity, Water/Waste?

If you are strictly looking for maximum appraisal value then perhaps consider it if you can develop/finish the attic space well below the $314 $/ft average for a 5 bedroom.However, other factors you may want to consider are increased operational costs (e.g. heating, cooling, etc) that will stay with you well past the cash out refi.

Is it like the Roof/ac/heat portion of a house inspection where it’s simply going to have a note saying you should have a professional inspect it.

A heating and cooling contractor should be familiar with these; plumbers will probably be as well.

We're currently investing in Miami Florida and Pensacola but i'd say just pick a market, run the numbers, make sure the regulations are good, and go from there.

I live currently reside in Miami, if that helps.Thanks,Tim