At what point is raising rent on inherited tenant unreasonable?

[Joseph Matarazzo]

Hello BP Community,

So I have the opportunity to purchase a 4 family where the rents are drastically below the going rate. 

-Each unit is currently rented for $800. 

- BP Rent Estimator says a comparable unit is $1600

- Rental listings in the area are $1800-2300. 

So If I buy this property, I need to raise the rents in order for it to cashflow (break even is around 1300). I have looked for posts like this from the past and the examples are a difference of going from around 450 to 600 in rent.  Not going from 800 to 1600-2200 (double or almost triple current rent).  

How would you all go about raising these rents in this extreme situation? There is such a large difference here that on one hand you almost have to get rid of the tenant and get a new tenant in there. On the other hand, it seems unethical to more than double the rent on someone. 

[Wesley W.]

To be honest, I would terminate the leases and rent out the units at market rates.  It's ripping off the proverbial band-aid, but it's almost guaranteed the inherited tenants will not be willing to pay what the rest of the world would for those units.