This is the breakdown:2 tenants on month to month leases ~$250-$350 less than market1 long term tenant (15yrs) is now on month to month lease and is paying $1500 less than marketAfter consulting with a couple of people and doing some research, it sounds like anything over a I should apply banking rent raise and submit a 60 day notice (all of these units fall into that category).

It sounds like your current "strategy" is to react when bad things happen. 

Hey @Aubrey Adams - not to sound blunt, but there is no good time to buy.

Carlos,Sounds like you got burned on a syndication deal.  

It certainly sounds like you are taking the necessary steps to mitigate your losses. 

Trying to manage a $1M Airbnb rental while it sounds good you got $6500 in bookings you still have significant costs to operate it with maintenance repairs, utilities etc.

I do those things using a few excel spreadsheets … what you are working on sounds super handy!

Sounds good to me, I'm always happy to share my workflow with others and making connections.

It doesn't sound like you actually have an illegal unit here.... you have a two unit with a garden.

I think your thesis is sound in general, but I would want a hedge on my bet.