As I mentioned I did the challenge, provided documentation of all the upgrades I performed, a copy of my previous appraisal, comps, and wrote a detailed challenge.  

Rates are low, but depending on what you and the seller negotiate it may be better to remain on seller financing for the 3 years while the equity continues to grow that way when you refi at 80/20 you aren't left with zero capital to perform necessary upgrades and maintenance to 5 units.

You can offer existing tenants the option to upgrade their unit for the increased rent while they still occupy the unit. 

Then pursue with gradual upgrades that support the need for increases.  

Paint, appliance upgrades?

Now any upgrade we can save for.Good luck on your journey.

I am getting upgraded units at about $100 cost per square foot.Upgrades include luxury vinyl flooring, granite counters, many extra windows, sliding patio door, and a bit more.

However, if you've been in your home for 2 years and you're ready for an upgrade because your growing family is on top of each other - it might make sense to make the leap now and just sell the existing house.Best of luck!

You obviously put about $35K in upgrades after purchase to get to the $58K. 

This allows us to make recommendations on needed upgrades so your property will shine in photography and you will have happy guests who leave good reviews.