I've typically followed a similar formula to Jscott's in that I want to have a better house than the competition (eg. upgraded finishes, etc.) priced below the competition.

I do run Virtual Box on the work mac for one application I have to use that is Windows only.If you buy a Windows 7 machine you should be able to upgrade for free.

When you plan to rent a property, you need to limit your investment to as little as it takes to rent out the home.As to replenishing your personal funds, selling off a couple of your well rehabbed and upgraded units sounds like an economical way to accomplish that.

Actually be there to meet the appraiser and discuss the work you did to the house.Aren't you going to have to upgrade the HVAC and electrical for all the new space?

When we developed a subdivision, we offered granite countertops, stainless appliances, upgraded tile in baths, stamped concrete driveways, concrete mowing strip in front yard, etc. all standard.

Some of those changes may be upgrades to what you're planning, and can cause costly time delays, etc. if you're not set up to deal with it.

I need thoughts on an older 4 Unit Brick Building, 3 Units upgraded, 1 with long-term tenant needs upgraded when they move out.

Will Barnard - We're working on upgrades to the Marketplace in the near future, but until then, there's absolutely value there still.

I buy properties in need of repair and upgrades at a bargain price.

If they are desperate for relocation, I will hold off because it is more of a hassle in the log term, but if they legit want to move, I may make more repairs/upgrades for them.I hope this helps because I rather loose 3 months of rent to keep it vacant than get someone in and evict them down the road