They can always ask for a premium.

I would also charge a premium (I've seen anywhere from $100-$300 per month or a percentage like 20% added onto the rent) for the flexibility that a MTM lease would allow the tenants.Hope that helps.

I know I'm still paying a premium vs. something that needs work was built in the 70's, etc. and the thought part is that it's hard (of not impossible) to quantify a "more modern layout" when it comes to cash-flow now, in 20 years, etc.

Consequently, there isn't much premium for the lots' (potentially preferable) zoning.  

That being said, you might have to have a local handyman to address night-time and weekend emergencies when you won't want to run all the way over there, which will come at a premium, but for a better deal, will be way worth it.

Think about it; you get a house that's a bit run down in an area you want to live in, you get to fix all of the units up the way you like them with the bank's money and then you get to rent them out at a premium because they're essentially new apartments.  

With a future buy and hold exit strategy in mind, can you cash-out refinance out of an FHA 203K loan to a conventional one - once 80% Loan-to Value (LTV) is reached, thereby extracting cash out (for the next investment property) while dropping the Mortgage Premium Insurance (MIP).

Hi @Steve HaagAs @Kayla V. said, small multis are going at a premium these days.

We're buying this one at a premium, but didn't have the funds to buy three (which is what we'd have had to buy in order to get the same return as this one).

But if you are in a A- or B+ type area that values a master bedroom, 2 car garages, or other nicer amenities and people are willing to pay a premium for such a property, I would go with the 3/2.