Adding value to a C class 4 plex?

[Luke Dilorenzo]

Hello BP,

Question. I'm trying to figure a way to refi and drop my PMI on 4 plex. Owe 450k current Appraised value is 415k. So still above 75% LTV. (Just purchased this last year with FHA). The question is does it make more sense to just pay down the loan to 75% or add value to the property by light rehabs to bring the value up.

Thanks for your time!