I selected Lewiston for the post as I didn't see an Augusta option, but I do work all over the state.It was my family's property management business that brought me to Maine and sparked my interest in and passion for helping investors achieve their goals. 

The two common ways to get rents up is 1) to move qualified family into the unit for a year 2) perform and extensive rehab such that tenant occupancy is not possible. 

Quote from @John McCarthy: The standard answer is 60 Days, however, your lease should specifically state what your terms are that you both agreed upon when the tenant moved in.

There are attorneys who will help navigate the process for you and act as an orchestra conductor to keep things moving along.

I'd be happy to talk with you further about how to leverage your real estate license in pursuing your investment goals.

Tenant 1 moved out five months ago.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

If you have mony in the deal and it is no longer bringing a proper return it may be time to move that money into another property that will return more.  

What are your goals for this property (e.g. why are you getting into this)?  

I've also held of holding properties in individual LLCs that are owned by one S corporation, which allows for a 60 / 40 split between ordinary income (regular tax) and dividends (capital gains tax rate).With the goal of minimizing taxation and liability protection, what would be the recommendation from more experienced people here?