But it seems would be difficult to get enough value from forced appreciation just by bringing elements of the house up to date like kitchens and bathrooms, etc, rather than a full rehab on a significantly cheaper house.

Things like cracked window, not strapped water heater, missing smoke/fire alarms that the lender wanted rectified. 

I bought a full set of steel kitchen appliances for $1,000 that was only two years old and in perfect condition.

Siding, kitchen and bath remodel, flooring, paint, landscape.

Some towns will make you remove the extra kitchen, etc and convert it back to a 2 unit.

For the CapEx, Has a new steel roof, furnance, and refinished hard wood floors and new windows.

AirBnb is an option as long as the unit is furnished nicely and all the towels, sheets, kitchen ware available.

Conventional loans will not allow loans to be closed on properties with bad chipped paint, roof damage, wood rot, pest infestation, moldy carpets, broken windows, torn up bathrooms, etc etc.

Scope of rehab included: - 3 new kitchens (cabinets, counter tops, appliances)- 3 new bathrooms (flooring, vanities, toilets, bathtub surround)- Refinish 1500 sq ft of hardwood floors- restructure garage- new roof- replace furnace and service 2 other furnaces- replace 27 windows- replace kitchen and bathroom flooring (used Home Decorations LVP Flooring)- Paint walls, ceilings, trim (used Sherman Williams Agreeable Grey)- landscapingAfter our full renovation we went 16k over budget.

New windows, doors, lots more insulation and spray foam in some areas.