Where you fall in that range will be dictated by bedroom count per unit and the quality of the area/building itself.

A great resource to check out is The Frugalwoods—they share practical strategies for cutting food expenses without sacrificing quality.

@Chase AlexanderRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

lots can go into this somewhat simple question and most of it is personal preference.- you'll want to define "best", and what that looks like for you as a success.- How much money do you have to spend?

Each property should be evaluated based on its characteristics and overall quality as an investment.

Need to spend some quality time roaming around here to get a feel for it.Tony

That is in the contract as a deterrent to prevent an owner from using our services to find a high-quality resident and then moving the management, thereby hurting our reputation with the residential community. 

Just started our own firm investing in and managing property in our relatively new (~5 years now) home in Charleston, SC.Happy to be a resource to anyone and look forward to making quality local connections!

Here’s how they approached it:1.Scraping Listings: They used web scraping tools like Beautiful Soup and GPT APIs to scan Airbnb for properties in their target areas.2.Image Analysis: They trained an AI model to analyse listing photos, identifying homes with solid potential (good structure, layout, location) that were undervalued due to low-quality photos.

I don't know enough about your rentals to determine quality, location, or layout, but I suspect my numbers are pretty close.However, your utilities are pretty expensive in the winter.