Quote from @Justin Brin: I created a heat map showing the population changes in each state over the past five years (2020–2024).The states experiencing the largest population increases are Florida, Texas, Utah, Arizona, and South Carolina.

The investor must consider whether the potential property value increase or other benefits outweigh this loss. 

Keep in mind, adding "cute", and upgrading things won't increase your rent or ARV past what the market in that area will tell you is the max. 

I don't remember the exact cost when I did it but I remember thinking it was cheaper than expected.I didn't see a comment mentioning that you should just include utilities in the rent and increase it based off that so I'll be that guy.

We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc.....

With the COVID-era surge in home prices, rapid increases in mortgage rates, and rents not keeping pace, it really has gotten harder to make these deals work.

Even a small increase could make a difference in cash flow.

House hacking is a financial no-brainer, it eliminates you single biggest monthly expense, so you can increase your savings rate.

I will say though if this is your only option and you're confident in finding a deal below market value, then it might be worth it.  

Do the schools have increasing or decreasing student enrollment?