I finally received the Don Campbell's Multi-family investment binder today. I can't wait to review it and learn the best practice. Multi-family units make lots of good sense economically and strategically for one to build out a meaningful portfolio. But of course, buying/owning/managing a multi-family is a whole diffeerent game from that of single-family... as the stake is much higher.
We currently own portion of an apartment bulding outside the GTA. It's a 11-plex in a (i will say regentrifying city). We are definitely learning from our friends on all the best practices step by step.
By googling, I came across this article on Canadian Apartment magazine about renovation for apartment building. It's interesting to note that the higher ROI renovation projects are ceiling fans, W/D machines, computer desk, intrusion alarm, phone line and internet access. While I have heard different opinions on ceiling fans (the major complaint is the liability for landlord in case you tenant make bad use of the fan and injure him/herself). On the other hand, the least ROI projects are screened porch, skylight, and kitchen TV.
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