Investment Info:Single-family residence wholesale investment.

The city is projected to add over 1 million new residents by 2040, with a significant portion of this growth occurring in the next five years.

Quote from @Jerome Wiley: Can the landlord ask a perspective tenant how many adults will reside at the rental property?

I own a small 2 bed/1 bath home on 40 acres 30 minutes north of KC. Been living here for 5 years and owned it for 3. Got it for a steal, so we have a lot of equity, but the house needs a lot of work. The original plan...

You can have "good" residents and market rent...no need to settle for one or the other. 

If you did the latter, then there was no usable bathroom during this time for those residents and technically the unit was not habitable.

If I tried to base my renewal on expenses only I would increase above market rents and probably lose my current residents because of that. 

Investment Info:Single-family residence fix & flip investment.

Furthermore  once the 1031 intermediary get their cut and you also pay two sets of closing costs ( buyers now have to pay closing costs in some states ) as opposed to just one closing cost ( if not doing the 1031) it might be a “half a dozen vs 6 of the other “ scenario .Also one of the turn offs to the 1031 exchange is the interest rate will be much higher with todays rates especially since we would have to get an investment property loan which are higher than “ primary residence “ loans ..Will probably lower the rent asap ( have one more showing ) and then put it on the market .Thanks for the great advice Christian 

State/local are determined by your state of residence, not the state the property securing a loan you hold, or property you own is located in.