The only thing of any fashion of answer that can be lent is, in general, a "Reno" on scale of what mentioned here is NOT a "reno", it's a RE-development.

I will probably paint the outside, make it look a bit more modern and lease it out. right now it is 70% vacant What was the outcome?

This "admin" is what running a business looks like.Due On SaleMost modern mortgages have a due on sale clause in there to trigger when a property is sold or transferred to another party, this is so that the lienholder (the mortgagee/lender) has recourse in collecting what's due on the loan from the original borrower.

I'm looking to purchase a lot in the Lutsen area to build a modern cabin on and rent out on AirBnB.

New retail has started opening up and more modern national operators are slated to open in the near future.

Plus you might be able to get away with a "modern vibe" to boot.

In the modern day, you can get really low rates so put the debt to good use and purchase assets that way. 

Both tenants eventually moved out at the end of their leases, allowing us to re-rent the units at modernized prices and update one of the units to list as a furnished rental.

@Troy Smith With my investment portfolio when we’re upgrading we look at the things that were mentioned like floors, paint, landscaping, kitchen appliances, ceilings can be a quick improvement but we also look at the most outdated things and try to figure out the best way to modernize them if at all possible for the least amount of money.

Well-maintained and modernized properties often command higher prices, regardless of the neighborhood in which they are located.