I am a business broker by trade but I am looking to get into multi family syndication.

However, with a dscr cash out, your credit will come into play as well as leverage meaning that more info is needed to understand the cash out proceeds of your scenario.Also, the timeline for these area about 30 days give or take and the proceeds must be used for a business purpose.

You could add a bathroom to a house or paint and increase the value of your investment.

What I was thinking to increase cash flow would be to mid term one - two unites.  

Most people might not have the ability to pay 5 to 6 figures a year for that.With Costar it is about residuals. 15 years in the business I do not like contracts and residuals.

Also the tax amount on the tax rolls is not the tax you pay in the future, it is based on the new sale price and will increase according in due time. 

Any decision you make in rehab should be based on how that will increase your rent. 1.

It is always best practice to keep business and personal seperate.

You might also meet someone that could be a potential business partner.

Side note: you should have been raising his rent bi-annually at least, as your costs have increased!