Obviously your goal is to widen the spread, so focus on what you can control  Expenses are also a function of market, as some of my properties have taxes at 65% of total expenses, while others are 15%.

Unit Sizes Are Growing — Especially One-BedroomsAfter years of shrinking unit sizes, 2025 marked a clear reversal.The average new apartment size increased to 908 square feetStudios and one-bedroom units experienced the largest size gainsOne-bedrooms made up nearly 50% of all new constructionThree-bedroom units, however, continued to shrink slightlyThis shift reflects renter priorities: flexibility for work-from-home setups, lifestyle comfort, and better value for rent.

Nothing fancy or over-improved, just smart, functional upgrades that improve rent and long-term durability.

This is one of RTR's largest value adds to our clients. 

It’s functional.And functional is what builds wealth.For investors who prioritize cash flow, stability, and scalability, Memphis isn’t underrated, it’s misunderstood.Are you investing for appreciation, or are you investing to get paid every month?

@Kitty Walker- As an investor, I've refinanced multiple Padsplits and co-living properties (where we go direct to tenant without Padsplit), and I generally agree with your last statement, with some caveats:- if the renovation is done well, the appraiser may not even say anything that would indicate it is an "abnormal" SFR (has happened multiple times with me)-the investor may be wise not to make the house crazy- just leave a nice open living room, put double doors on the dining room so it can function as a bedroom now but be easy to convert later, etc.  

I don't have any other suggestions other then doing one of the three things above as a good starting point prior to giving someone the microphone to the largest podcast in the world surrounding the topic of real estate. 

The density and quality of routes here have made it one of the top rock-climbing destinations on Earth, supported by a truly global climbing community.Immediately adjacent is Natural Bridge State Resort Park, home to one of the largest natural sandstone arches in the region and one of Kentucky’s most visited natural attractions.Because of its rugged terrain and elevation changes, the Gorge also contains a remarkable variety of ecological zones — something you usually only see across much larger regions.This place is protected, finite, and impossible to recreate.The Data Is Catching Up to What Locals Already KnewAccording to AirDNA, Red River Gorge was recently ranked as the 4th fastest-growing short-term rental market in the United States.AirDNA tracks real booking behavior — occupancy, nightly rates, and revenue growth — across tens of thousands of markets.

However, Florida real estate has had some of the largest pricing declines over the past year, putting into question their 18.8% returns, if they have invested there.If my children were asking me about this, I would tell them to pass, and save up enough to buy a househack. 

If you think about it, that's kind of the way it should and the market is functioning efficiently.