This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

Quote from @Carini Rochester: Since you inherited the house, you get the stepped up basis.

I've been following the build-to-rent method for some time and even lived in one for 2 years.

I picked up the BRRRR method book and feeling confident in setting it all up (we did a similar process for our Airbnbs).  

@Brandon TylerThat’s an exciting step—getting your real estate license will open up so many opportunities to learn and grow!

Starting out in real estate can feel overwhelming, but breaking it into clear steps makes it manageable.

This involves working backward from the final aim to determine the steps.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

If it is last rental rate charged, then you may have to get creative to accomplish what you want to while still working within the law.Here's an idea to explore.....If it is a 10% increase over the last rental rate you charged, consider using a step pricing lease if allowed by your state. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.