He earned quick money as a wholesaler, and I have a house to keep)Rehab cost: $20k (vinyl floor, interior paint, new dual pane windows, new toilets and bathroom vanities, lights, new landscape, new AC condenser, all done by handyman, spent some extra money for minor plumbing and electric jobs, hydro jet sewer lines, clean up attic (had mice), added some insulationTime spent: 3 weeks (two handymen for the first two weeks, one for the last week)Value after repair: probably around $440kJobs still need to be done later: some dryrots, roof work (it's tile roof, roof doctor quoted me $9k, handyman said probably $5k, home inspector said $15k you can get a new shingle roof.

What strategies are you guys implementing to optimize this cost? 

Upgrading fixtures, adding modern tile, and improving lighting can make a big impact.

They can power some basic circuits for days such as a fridge, basic lighting and the all important well pump.

.- That quirky, and warm, light switch that you didn't notice because you haven't been to the property in a year.- The shower that you noticed is awfully hot but failed to check into it more before you left.And so on. 

We’re eager to reconfigure that area into multiple units to enhance income potential.What strategies can we implement to address this situation effectively?

There's no seller resistance 9 times out of 10 and I get these properties 30-40 cents on the dollar.If your wholesaling this is def a method you need to implement in your business.

Usually people with good credit, income, can get funding for light, cosmetic rehabs (kitchens, baths, paint, landscape).

Implement a direct booking strategy. 

The strategy you are implementing we like the call the "Holy Grail" of house hacking haha; purchasing a small-multifamily to house hack with a VA are powerful tools, and done correctly can really help kick start and build a great porfolio.