I have a blended approach of cash flow and equity appreciation and it's worked well for me.  

Russell Holmes Kerwin Montilla Anthony Perugini Hey all, I would love to join a group if you all are serious of taking a deep dive to uncovering what it will take to build new multi units in Central FL.

Hello @Joseph SangiminoTo answer your questions,1) Knocking down walls: do it if cost effective, can fix and blend-in the new exposed flooring.

If you have functional builder-grade linoleum countertops that work but aren't pretty, in our market we can spruce those up cheaply with either Rust-Oleum or a custom-blended product similar to Rust-Oleum (we used the actual product I linked on our first couple and now we are custom-blending our own to give us more color options).

In my leases I clearly write and explain to tenants that we will remediate any issues uncovered in the 1st 30 days at our own expense.