So if the difference between current and market rent is truly $500, we would raise rent $250.You don't want to stall out on making progress toward market rent, but we like to keep good tenants a bit below market rent both as a reward and as an incentive to stay since they won't find comparable units if they shop around.

The ways things are progressing we all will be bidding on the same RE.I think the process is broken.

If you progress from hobby landlord to business you will change your practices.

Good luck on this journey and please keep us posted on your progress!

We have $25k for emergencies, and another $65k either in brokerage accounts or high interest savings/checking accounts, though we're pretty far behind in retirement savings due to some debt I had from the only other time I've been a landlord (a long story about getting screwed by a RE attorney/property manager from a home from my previous marriage), which has been paid off since 2013.I've known about my unemployment since Thanksgiving and am trying to move up the corporate ladder, but am finding it difficult to progress to in-person interviews for job titles that are above anything I've had yet, but I am getting initial interviews for VP/EVP/SVP roles with recruiters.

@Alyssa Dyer In all honesty, no progress has been made!

Anything below 500-600k to buy is so ridiculously competitive you pretty much have to be a contractor yourself to make a worthwhile profit, but the deals get progressively better as the numbers go higher. 

My thought was to see the progression of one of the properties during the remodeling period, then duplicate it.

I will be documenting my progress here.

Has the path of progress pushed to a different direction in Auckland?