Heating costs go up in winter, as does electricity due to the reduced natural light and more people indoors.

That might include things like adding units, converting commercial space to residential, or finding ways to boost income (like adding parking).The key is recognizing opportunities while walking the property, and that takes experience.

Are you currently in the STR or LTR space / are you looking to expand into one or the other as you grow your portfolio? 

Quote from @Caleb Rehg: Quote from @Will Gastonstonton: @Caleb Rehg This thread may be helpful: Nearing 1,000 College Students: Here's What I've Learned Sounds like you know what you are talking about in this space. 

2) Electrical: Because we have no heat, we've been using two space heaters.

Then later as you grow older and no longer want to share your space you can just stop renting the other bedroom.

It is not a "data" thing.This is the actual reason why it is so hard to become successful in this space.  

I've often found that just going right to the expert in the space is going to be the most direct source of info.

Not a lot of municipalities allow that sort of structure as living space in our area.

If you can find a place where the HOA or COA is flexible and you are able to convince the membership to go into development and perhaps convert the property into a co-op you could build a new apartment complex with commercial rental spaces on the ground floor and residential spaces on the top.