Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I am open to it- but unfortunately, I am not looking to move until another 2-3 years- my partner and I rent an apartment on IOP and we love the location and the cost is actually incredibly low which is great.

Would the value of the remodel increase the rents or the selling price that would out weight the cost? 

The instruments needed for the transaction will be state specific which means you should have someone from California chime in with resources who can provide low cost documents (as these will be boiler plate).

This allowed our partner, Jamari Sprueil, to move forward without any upfront costs.

The process from start to finish would take four months and cost ~200k to build, with comps in the area around 355k-lender man said, refinancing would take six months as most lenders wont refinance a property unless its been built for six months, affecting the strategy to get paid out from refinancing quicker and closing out on construction loan-The property would not appraise at comps value, but at the cost it took to build, affecting getting paid out from the refinance.

Yes we avoid custom work to help keep cost down. 

I own a duplex in Clermont, FL just outside of Orlando and initially wanted to split water meters between the two units, but the cost and amount of work were higher than expected.

Way better returns on the cost seg than you'd ever cash flow from an LTR. 

The cost is the same for a roof on a house that rents for $800 per month is the same as on that rents for $1800.