Let’s unpack that a bit further. To increase income, you could do this through collecting more rents. You could also collect more fees or provide other services besides renting the apartments.
By increasing the value of the property, the Loan-to-value ratio goes up. When refinancing the investment property, it is not a taxable event because you are just borrowing money.
The capitalized benefits of forced appreciation apply to any investor that is interested in either refinancing their property or selling.
The result of increasing your income and reducing your expense is higher net profits. I do not know too many investors who would be displeased with this result. Even if they are not “value-add” investors.