And now with rates being high, plus many areas overbuilt with new apartment buildings, I’d be careful with unknown areas, and also what you read in the media about “hot” areas, up and comers, etc.I was in a similar situation to yours a couple years ago.

Dealing with people is messy, its not uncommon to have difficult situations and conflicts to deal with. 9.

I see that I wasn't clear in my description of our current situation and our goals. 

To be fair, I've encountered situations where the Section 8 rent received was higher than what cash paying tenants were paying.

These situations don't get better, they always get worse. 

With $135K in equity and options like flipping or investing out of state, you’ve got the foundation to make some big moves.A close friend of mine had a similar situation recently.

In the latter situation (where I am paid monthly), as a short term lender, I only do 12 month Promissory Notes.

Even if you don't have rent caps, it is better to do smaller increases each year before you find yourself in a situation where you are far behind and need to catch up. 

Some places you can find these are yard sales, antique stores, World Market if there’s one close to you.

Your situation offers a lot of flexibility, which is a great position to be in.