Houses are here very expensive, historical, and more as a cottage style.however close by there is house selling for 89.000$ which need major renovation.

Renovation of the kitchen to an open floor plan.

Hello again, BP.So, I have not raised my rents in roughly three years, but really feel the need to increase rental prices now after looking around.Currently at $1,245 for a 2 bed 1.5 bath 1060 sq ft flat in a B+ to A- location.Should I offer the increased price of $1,445 to the current tenant or remove them for minor renovations before renting back out?

We expanded and bought the building next door and are currently in the process of renovating it to become our warehouse.

Can you renovate the property to add bedrooms or baths? 

The best way to build some equity is buy fixer uppers and add value by renovating.

I recently bumped them again in Sept 2021 by $25 - $30.In Jan/Feb 2020, I renovated the other 4 vacant units and quickly rented them in Feb/March for $900 to $925 each. 

the they do a little bit of work to the home and turn around in 6-12 months and refinance it taking out the cash they injected and possibly more for future renovations and down payment money. 

If you're spending the time and money renovating a home, don't skimp out on things that don't cost that much compared to the rest of the rehab.

@Kendrick CarterI would suggest following the @the203kway on Instagram.If you plan to spend more than $35k in renovations or there are structural repairs, you will be required to use a 203k HUD consultant - who is a great resource throughout the entire process.In my opinion, building a cohesive team is most important - below is the path I followed:1) 203k HUD consultant > asked for lender referrals 2) 203k Lender > prequal letter provided 3) 203k Agent > had personal 203k experience and completed transactions previously4) Offer Accepted & Under Contract > completed HUD walk thru and scope of work provided 5) 203k Contractor > asked for referrals from everyone, and the one I found was currently working on 203k projects and understood the process I am now just awaiting the contractor quote to finalize the loan commitment process!