There have been many changes in the world and in local markets which have had an impact on HMOs. 

• Literally all training companies teach new property investors to follow this strategy in areas with loose licensing rules (no article 4).
• This in turn has created massive market saturation in many parts of the United Kingdom.
• Covid created a change in demand in some areas, with some people now preferring to live in smaller groups, rather than large HMOs.
• Bills are included in many HMOs ( this is the attraction of house sharing to potential tenants).
• Bills are now increasing massively ( gas and electricity), which will cost the landlord more money.
• This in turn will mean the landlords' cashflow is less. 
• This in turn means lower profits for a HMO.
• Rents need to increase to keep the profit in the landlords' pocket.
• In saturated areas, this is difficult, as unless everyone does the same thing, the tenant can move to a cheaper room leaving you with voids.
• When you have voids or lower cashflow, this WILL effect your valuation on a HMO property for either refinance or sales purposes.. 
• Title Splitting will solve these problems for you giving you MASSIVE CASHFLOW like HMOs, and bricks and mortar valuations. This protects your investment and income.