Are they picking window style and placement, exterior cladding, color, etc? 

For the sake of trying to learn and picking your brain, why would it be better to keep one rental and upscale the other instead of selling both and getting a significantly more expensive piece of property and trying to significantly increase cash flow?

In fact, many of their stories, just relied on, picking up a few investments in solid areas, taking care of them, and holding onto them for a long time. 

Before Pictures  (Zillow Link)After Pictures (Airbnb Link) This investor purchased and painted all the bedrooms and living spaces, replaced flooring all throughout, and has gotten brand new and very high-end furniture. 

I wanted to share the financials after 3 years, and demonstrate what three years of real estate investing can achiev3 Bed/1 Ba Single Family Pro-Forma:Year 1 (2021)Income:Rent: $1,200.00Expenses:Mortgage: $509.95Taxes: $119.10Insurance: $43.84Cap Ex: $60Repairs/Maintenance: $60Vacancy: $60Monthly Cashflow:$347.11/mo or $4,165.32/yrYear 3 (2024)Income:Rent: $1,300.00Additional Pet Rent: $75Expenses:Mortgage: $509.95Taxes: $155.43Insurance: $53.03Cap Ex: $68.75Repairs/Maintenance: $68.75Vacancy: $58.75Monthly Cashflow:$450/mo or $5,400/yr (Total/Not 50/50 %)Total Equity: $37,473.88-Principal Equity: $7,959.62I have learned a lot about the systems needed in place to run a rental property, and how important picking the right tenant is. 

So until supply loosens buyers will be forced to get creative and pay up.I don’t think it’s the overall crazy demand like you’ve seen in single families driving up prices- there is just literally almost zero double inventory.I did three doubles last year and still shocked I picked them up at decent prices in Lakewood.

I'm thinking about doing rental arbitrage in the metro Atlanta area, was wondering if there was anyone currently doing this Atlanta whose brain I can pick or whom I can partner with.

Tenants, "go into Holiday-mode" and start spending disposable income (and racking up their credit cards) on Thanksgiving feasts & trips, Xmas presents & trips, and finally NYE plans.3) Income Tax Refund checks start being received towards the end of February and corresponding, the rental market starts picking up again as tenants payoff their “Holiday Hangovers".4) Spring Fever starts, sometime in April-May, causing both sales & rental markets to start picking up.

We did ourresearch and the person we picked had great reviews.

Just be sure you fully understand the process to avoid any mistakes.When picking a firm, make sure to go with a reputable one.