Paul is right...if your goal is to calibrate your spend for ad campaigns focus 90+% of your effort on the list you use and know what you are trying to get.

Turns out this is expected, and the fix is to reprogram it as it does some kind of re-calibration cycle.

Calibrate your budget accordingly.

This is a great area for investment and I think long term prospects will be solid - my gut tells me to pass on this particular deal and wait for things to re-calibrate before moving forward with another purchase. 

Re-calibrate and move on.

Student rentals can cash flow extremely well, but require very high calibre management skills to scale. 

I was hoping it would be in at least in the mid-teens IRR but it would be good to calibrate those expectations with what you typically expect from your build outs?

So if the economic vacancy rate (including skips, etc.) is 40% the rent is probably too high and thus you'd need to drop the rent to have a good calibration point.The 50% rule of thumb is far oversold on BP and is not the end-all-be-all.

Your story struck me oddly; forgive me if my free advice is too bold.Get calibrated on what's a good deal today, and go buy another rental!

They will likely not be up to the calibre of tenant that will be coming in the future and could have a negative impact on attracting the quality tenants you want.You can not upgrade a property without also upgrading the tenants.