My opinion would be to put in the 10-15k for upgrades, take care of any maintenance items now while your living there, rent out the place for a year and see how you like it.

Then you do the same exercise for other major items than may need to be replaced sooner or later.

You will also get benefits that will help pay for your training/education in becoming an agent.

They have a 20% admin fee added on, but at least then I won't be held liable for their items.

Once those items are fixed, then look for a local lender to refinance or get a HELOC.

I'm in Ludlow, VT and found there's a zoom call tonight to go over a bunch of items, to include an update on the rental registry pending regulation. https://vtstra.org/regs My property has an accessory dwelling unit with an established long term tenant which looks like will keep me safe from future push on my STR.

Also need to crunch the numbers on selling off the items here (solar, some equipment, etc.), get demo estimates for the outbuildings and septic, and determine the feasibility of selling the house quickly vs paying to demo it.

Or we don't need to do any cleaning, just have them swap personal items, and sign a lease amendment to say the new tenant will be responsible for the rent and damage.

Price 450,000Cap rate on listing is 13.35%Taxes 15,700Annual Gross rent 81,9008 unit property        4 commercial units (2 restaurants, 1 liquor store, 1 mechanic which uses the garage)        4 residential units (2 units are 1bed/1 bath, other 2 units are 3bed/1bath)The property is right off a main road with the train tracks to the side of it C class neighborhood The property will need renovations, roof was done this yearAll units are rented and have been long time tenants This would have to be a cash deal and was thinking about getting a hard money loan to secure the property and refinance out of it. 

But does anyone have any data or research that shows the average percentage of increase per renovation item.