I upgraded to BP Pro recently and got both J.Scott books!

Oh I forgot to mention $20k in upgrades would be needed (granite and paint).

So can you buy a house that you are going to be living in and sell it after a year to upgrade to another house you will also live in?

Still about 4 units to upgrade to raise rent - that is why maintenance and make ready were higher numbers.

Can anyone offer first hand experience with this upgrade?

Pat,I own two commercial storefronts and the approach I have taken is that I will take care of upgrading systems - new furnace/AC and updated electrical panel but leave the build out up to the tenant.

discussion on ductless systems here - http://www.biggerpockets.com/forums/67/topics/43644-ductless-hvac-systems-cost-we looked into upgrading our triplex windows units with ductless systems because there is no attic/crawl space for ductwork.

Just upgraded to the branded ones I have:Still small ones.

The basic formula is pretty simple:-Maximize your income by upgrading your education or job skills-Minimize your outgo by living beneath your means-Religiously save the difference, and-Follow proven investment principlesMost millionaires are not big spenders.

So it is essential that you understand what the true value of the property will be after you complete repairsand upgrades.