The marketing functions is where the very host cost comes in.

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%.

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

@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.  

cash flow comes as a function of your whole portfolio - rent increases, refinancing, tax savings. 

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?

This is what economic rotation looks like in real time — uneven, sometimes uncomfortable, but full of opportunity for people paying attention.We’re only a few weeks away from a new year.So the real question isn’t whether 2026 will be “better.”

The Memorandum of Understanding (MOU) Is No Longer ViableAt the time of joining the Inner Circle, I was led to believe this was a select group of 300 top investors, a group committed to transparency, partnership, and shared success.Yet, despite escalating my concerns from Frank to Gretchen to you, Dutch, I have been met with avoidance, vague responses, or outright silence.How can the MOU function moving forward when:Investor questions are ignored.Financials are withheld.Investment structures are unclear and possibly diluted.Concerns about business practices are met with misdirection instead of resolution.You continue to invite me to Inner Circle retreats, yet you refuse to acknowledge my legitimate concerns.

As reward, I will provide a clean, safe, functional home and be responsive to routine service requests.

I see this all the time with well-designed Poconos properties:The same families returning annually.Friend groups rotating who books each year.Guests extending stays because they didn’t want to leave.That repeat behavior is incredibly valuable.