Unfortunately many of the improvement costs do not deviate greatly when you’re renovating a lower cost property  in a particular market compared to a more expensive property  in the very same market which makes it difficult to absorb the improvement costs in some areas.

Since you and your wife have renovation skills, targeting properties that need minor improvements can maximize your return on investment while minimizing the time and cost associated with major renovations.

Success often comes from picking properties with strong chances for rent income or those that can be improved in value.

Photo quality is important to drive traffic, and staging can improve photos and prospect appreciation during tours. 

Our average construction time is about 8 months after permit is issued and we  are always improving.

Moving to a portfolio model—where a pod (1 PM + 2 VAs) manages all aspects of 200+ units—streamlined operations and improved accountability.

I am optimistic that things might improve with this change, but I would not pay again just to find out.

The short answer is I look for 9% min and try to press it to 11% with those strategies along with rental increases once improvements are made and the tenants know you actually care about the property.

Their automessages and workflows are good and more robust than the competition. 

If interest rates settle down and rents improve I may try the Long term route.