Much of the rent price increase comes from the removal of the low end crappy units in the urban core that are being renovated and upgraded to the C+ B grade units effectively doubling rents on the properties.

The downstairs unit had a concrete below grade patio under the deck.

(This can be seen from as early as kindergarten, where I took all of the cokes from my parents refrigerator and went door to door in the apartment complex selling them, 1st grade when I sold all of my school supplies in class so that I could buy a toy that I wanted, and even in high school when, due to the fact that I couldn't afford a paintball gun that I really wanted, I build a paintball club signup notebook complete with maps and rank structure and handed it to one of the most popular kids in school to get people to sign up for a small fee, would have worked if my mom hadn't found the notebook at home and got a little suspicious to say the least.)  

It can end up costing you much more if you have to tear down and re do.. this is assuming you want to up grade the whole bathroom ie.. new water valve, maybe raise the height of the shower etc.

And this property so happens to get a passing grade.

That carpet has to be replaced now and the few carpet people I spoke with all told me to keep it simple and just use the same carpet I'm planning to use in the bedrooms (Shaw Full Court) - it's your regular, neutral carpet that may be a step above builder grade, but that's about it. 

Leverage is low (typically around 40%) and if the only fund of its kind that I know of that has an investment grade rating.

The lower risk the property the lower risk the tenant so I created The Ultimate Guide to Grading Cleveland Neighborhoods to help investors determine what risk level is associated with each property they are looking into to allow them to gather a bit more of an estimation on tenant behavior and subsequent costs the rely upon it.As for large Cap Ex items here are a few things to note that should help you out.Water tanks are going to cost roughly $1,000 to replace and will last around 15 years.Furnaces are going to cost roughly $3,000 to replace and will last around 30 years.A roof on a 1,200 sq ft bungalow is going to cost around $5,000 to replace and will last around 30 years.

As such I created The Ultimate Guide to Grading Cleveland Neighborhoods so out of state investors can get a firm grasp on the Cleveland market.Knowing the pros and cons of each type of neighborhood is very important.

I will scrub the walls with a mild digresser then Killz it then high grade paint this Saturday is D -Day!