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.

How much have you over-improved the property?

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

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.

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.

I am still very active in my local market as a host of the WWL Home Improvement each weekend.

We've lived in over 10 homes while raising our 3 children that we improved and sold.

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

Clarity shows commitment and improves your chances of obtaining funding, whichever property you choose.