The one thing that you cannot change after you have bought your investment property is the location. The best time to find out the potential returns from your property is before you purchase it. For example, some of the best areas for setting up short term accommodation are also the most competitive and sometimes in these areas making good profits on a one bedroom unit may be very difficult. There is generally a lot less competition for two and three bedroom units and by spending a bit more, your returns could be three to five times more.