Increasing income from IP

Hi Guys,I am in no doubt that there is representation of a lot of Property related experience in this forum. I believe that every person has a unique and inventive point of view and that’s the reason for me to seek advice here.We have a property in a very good location in Hervey Bay area. The house on the block is very old, small, ugly and beyond the point of possible repair. Thanks god we had great tenant for the last 3 years but as you can imagine we have a quite low income from that investment. We want to keep the property as long-term investment and develop the block with few townhouses in 3-5 years (it is a big piece of land and medium density zoning). My question is:Can you please suggest any idea of  ways to increase income from the property without going into major expenses? Thank you.Kind RegardsJack

A basic tart-up with lots of dyi (paint, spray bathroom, lino) ie less than $10k.

I.P. Freely - 'cause I can!

A deck is always good if you can build one! Renters like them...