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Renovating your rental properties can be a highly expensive, time consuming undertaking, depending on the particular renovations. If you are debating whether or not to undergo renovations, ask yourself these four questions:
If the answer to one or more of these questions is "Yes," renovating your rentals could be highly worthwhile. Other factors to consider are the current tax benefits of renovating rental properties, and whether or not you have a rental property you can pull cash-out of to finance your renovations.