Give them a choice.

Baldwin County AL is an excellent choice but everybody knows about it now.

. - not my first choice, unethical, needs cashb) Get to do a 13% or 19% rent increase if rents haven't been increased since May 1977 or May 1976, respectively - I will find out if there are records going this far back in due diligence phase, if offer gets acceptedc) Operate with a loss or very low NOI for 1 year, after that we will be eligible to apply for a Just & Reasonable Rent Adjustment. - with this, we can potentially increase rents by up to 145% depending on a comparison with baseline 1977 level rent amount.I have 2 questions:1) If there exists these 2 other, legal ways to increase rent in a rent controlled area, why does it seems like the only option most investors consider is cash for keys?

It was our choice. 

You have several options, and the choice depends on your goals and financial capabilities.

I know everyone says to hire a PM company but that is rarely a good choice when you are starting out (at least in my area).

Lease Option would be my first choice and then Subject To or any owner finance deal you can put together.

I ended up looking into OOS investing and settled on Columbus as my target market and haven't been disappointed with my choice to do so. 

The CMHA payment standard refers to the maximum amount that the Cleveland Metropolitan Housing Authority (CMHA) is willing to subsidize for housing assistance programs, such as the Housing Choice Voucher (Section 8) program.

Diving into the Charlotte, North Carolina real estate market is a fantastic choice, especially for your first rental property!