@Atul Mohlajee not sure who your attorney is, but three of our attorneys approved our automatically renewing lease that requires tenant to give proper Notice so it does NOT auto-renewal.Michigan law also allows any length of Notice requirement, ours is 60 days.That aside, a judge can rule however they want, forcing the losing side to go through an expensive appeal process.Regarding the 1.5 SD, they are legally allowed to deduct any damages, then apply the rest to outstanding rent.My opinion is that the PMC should only be able to charge:1) Rent + lease utilities until a replacement tenant is found (Michigan statute)2) Whatever the lease contract states

It makes it much easier to get tenants to pay for their utilities (they can put the utilities in their name).  

You should also add 1-2 months of lost rents due to repair time and marketing to find a new tenant, and your carrying costs (prop taxes, insurance, utilities, mortgage, etc.) to this amount.How many months will it take you to recoup that amount via the higher rent amount versus whatever increase the current tenants agree to ($1150 - $825?)?

I will have some support from my family as well to utilize gifts from family.

For more powerful financial software you can utilize Quickbooks, with much the same inputs but much more flexibility and greater detailing.  

Any way you could "Meter" out the units to put utilities in their name?

I utilized them for my LLC creation!

Then you can utilize her money later to grow the portfolio faster once you have demonstrated success.

For those who have explored or utilized such financing options, what has your experience been like?

Or maybe we can utilize a DSCR loan.