ROI on this project will take the cash flows you earn and add the equity increase in your property.

Reason's I've retained:Minimize your own cash in a deal.Use someone else's cash to buy a property (the bank) and another person's to pay off the loan (the renter).Buy more properties (simplistic example: buy one 100k property cash, or finance four 100k properties).On the other side, paying off a mortgage early (or unleverage):Pay off a property and increase cash flow (some people claim this is a terrible idea)Less risk.

If there's an assessment or litigation, you'll read about it in those minutes) Also, if you get the budget and you see a large increase in legal fees, ding ding ding, you may have litigation. 

@Charlie Gomez - If I were you, I would refinance and take the increased cash flow.

Remember aging brings about increased medical expenses and a lot of unknowns.

In doing so they are increasing the values of their rentals. 

Is there any room to add value to justify an increase in rents, or do the recent updates pretty much cover rehab and rents are at the ceiling of FMR?

Popular, increasingly trendy area.  1-4 miles from the French Quarter/Downtown areas. 

I know I can claim it but would that make the Zillow price increase? 

Still in the early stages of conversation but got some beginning information and wanted to see if this was worth pursing:Asking Price: $550,000 (I already assumed that was too high, trying to figure out a reasonable price to offer)Income: $4000 a month (believe there is potential for rent increase (waiting on specifics of each unit))Expenses: $900 a month (Water, Garbage, Taxes, Insurance, Maintenance, Pest, & Septic) Self- ManagedNOI: $3100 a monthCap Rate: 8.72%Stable TenantsDoesn't need major workGood Area, Decent SchoolsQuestions:1) What is a fair win-win offer?