Good luck and keep us updated on your progress!

My units are well updated and I’m able to collect higher than average rent for the area.

It has been maintained fairly well, but could use some updates, paint, kitchen, bath, etc.

Maintained fairly well, but could use some updates.

Some factors to take into account will be the overall condition of the property and current rental income in comparison to market rents (comps).Queens has many SFR with liveable basements so you may be able to find someone willing to househack and keep the current tenants but you'd be working with a very specific buyer pool and this could lead to less interest in the home, a lengthy selling process and a below-market selling price.With regards to giving notice to the tenants, assuming you're going to aim to close when their lease is up in April, I'd mention it 30-60 days before putting the property on the market.

You find older house that needs updating. 

Would you switch out the flooring for LVP and update everything so it is more modern or would you leave it as is?

Building is old with old plumbing and updates needed.

Rent out room by room and update.

Purchase price: $515,000 Cash invested: $138,263 This is a 6 unit MF with all one bedroom apartments we bought and looking to add value by exterior cosmetic updates, increase monthly rents towards market rates, and renovate the remaining 4 units yet to be updated during turnovers.