Make sure you're improving your financial position now though. 

Hey Charles,Please fill out your signature profile so that your website and contact info displays on each post.Contact info does not go in the body of the post but the signature.

I've been listening to the podcasts and reading articles, but hadn't created a profile until today.  

For example, if it increases cash flow enough to pay for itself over 5 years, and the market CAP is 10%, it will, by definition, increase the value of the property (from a strictly income approach appraisal perspective) by double the cost of the improvement.

My wife and I are on the same page and really want to take our time finding a deal that works in a location that improves my commute and can pull decent rent for the one unit while we live in the other and both once we move on.We have about $15-20k liquid right now which I know isn't nearly enough.  

No way to get to legal code,,,too narrow,,, too short on headroom...Aim was to make "better" and it has,,,greatly.Been wanting to do this bucket list improvement for 35 years,,,finally had the brainstorm to design and DO it!!!

This time around , I want to improve my project management flow by having a more formal contract and estipulations as to the work quality , delivery expectation and payments.

Everything I earn in real estate goes back into improving and buying. 

Suggest you complete your profile and upload a recognizable face pix.Probate investing us good however it's like pointing to a Boeing 787 and saying 'I want to be a pilot and fly that airplane'.

Then you would get the most benefit from the bleed over from any improvements you make.Also make sure you are pushing rents up not down.