I live about 30 minutes outside of Knoxville in a used-to-be small town that is booming and shows no sign of slowing down.

To answer your question about raising rents it depends if it is subject to LA Rent Control or not. 

I'm happy to grab coffee or show you around whenever you are in town.

Another, scarier story I have is from when my business partner at the time and I were touring a house that'd been vacant and on the market for a few years, deep in the back woods of Vershire VT, real middle of nowhere town that has fewer residents now than way back in the 18th century.

what town and state are they in?

In Phoenix, she added, “we don’t control evictions.”

Use this turnover as an opportunity to research and find a manager that can stabilize the property and take control of the situation so you can focus on other aspects of life.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

If you have the means to get a loan and house hack in your current situation, I'd think living in a college town and knowing that town and area well would give you a strategic advantage.  

Also if they default on the wrap its easier to unwind and gives you more control.. either way though your on the hook for the 100k.. and if they dont pay you still have to pay on the 100k while you foreclose on your wrap note..

Your engineer or surveyor or town planning personnel should be able to give some idea of the timeline to having approval and a building permit.