It also sounds like you own the land your business is on and are thinking about developing the land with a similar building to what is being built next to you?

Our rehab cost estimation comes from researching the area and talking with local investors that have similar properties. 

I love this and do a similar exercise with our properties.

Very similar to properties in Oregon we've sold and for sale.

Also, we're not getting anywhere near market rent for the home since its only half the home being rented, however we do feel that we're getting what similar efficiencies are getting in the neighborhood.   

Quote from @Denver McClure: Hey @Buck Dabill, if AirDNA isn't giving you quality data, then I would suggest manually scrapping similar properties on the lake via Airbnb, VRBO, and Vacasa.

If the condition is similar to the market average but your rent is severely under market rate then I take an average between the current rent and the market rent and send them the following message 2 months before their lease is up (assuming you aren't in a rent control market),Dear Tenant,Some nice words and remind them that their lease is up within 2 months, please select the following options about their new lease, also mention that you are doing the best you can to maintain the rent as low as possible but with inflation, insurance and property taxes increasing, you have to raise the rent to keep up with the rising expenses. 1.

These are a few of their oldest investments, so I'm assuming I'll be seeing similar "opportunities" on my other two investments in the future.

I will however buy directly from sellers, that's the only other avenue I rely upon which also yield similar results. 

I'm curious if others are seeing similarities in your markets.