Newbie question but I am looking at a triplex where all three units are currently rented. I am seeking to use the BRRR strategy to purchase the property with private money eventually doing a cash out refinance and paying back the private money lender. Will re doing the properties siding and some exterior upgrades be sufficient enough to force the appreciation or is the only way to increase the appreciation is to rehab each unit?
As long as you can update some major items on a property you should be able to get the higher value that is needed for you to complete the BRRR.
But - check out what the comparable properties have that your property doesn't and make those changes.