So It's gonna be a gamble if I decide to sign for a new one year and let sec 8 decide what the rent should be.In this case the tenant pays only $55 per month.

@Cedric Van Duyn, the gain is recognized on the day you sell the property. 

Much of the frustration with "banks" come from their having to comply with "Dodd Frank" legislation that doesn't recognize depreciation as simple accounting and only looks at the taxable income, not the free cash flow, on a property.  

I have pretty much lived here all my life and barely recognize areas north where I don't visit much like Carmel and Westfield. 

I view investing for appreciation (with negative monthly cash flow) as gambling.

@Caleb Dryden,  No matter the entity, the gain will be recognized as of the date of the sale. 

Its a gamble in my opinion.

Just because you kick these people out and raise the rent doesn't mean the next tenant will be grumpy and complaining to all the neighbors about how high the rent is.If your current tenants were truly grateful, they would have recognized that even an increase to $1,050 was a generous offer.

I'm out of state so it was kind of a gamble for me to hire them, but they've been great. 

Hello @Andrew T.Didn't recognize you there. :)