A few strategies that work in high cost of living markets 1) Layout changes - I have converted 1 bedrooms to 2bedrooms, studios to 1 bedrooms and simply by doing that I increase the rents significantly and now the property can be cash out refinanced. 2) Adding ADU's, preferably attached ADU's (basements, garage etc)3) Cash for keys + Renovations - washer dryer in units, and upgrade unit (combine this with other 2 strategies, above and you've doubled your equity)

Doing some electrical and plumbing upgrades in the next 2 weeks to get it safe and in good working condition.

I'm upgrading soon regardless because I want unlimited access to BPInsights, among other things, but I know from listening to the podcast that there have been promos in the past. 

You could upgrade that circuit to a 20amp breaker but your wiring probably isn’t thick enough to carry the extra power without fire risk. 

Hi AllI own 3 unit multifamily in providence, RI .My current tenants just moved out and i am looking to upgrade few things in the unit. 

- I assess if the unit needs any reno or upgrade- New tenant comes inLet me know if you would add or modify anything in this list.

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.