For the ignorant dummy who responded do not judge me wether or not why or why not if I can reach out to these home owners investors who are struggling with elderly tenants Dont put words in my mouth if you are capable in that small brain of yours I will reiterate once more Now put your ears on ok never did I say investors should not profit or perform accordingly Now about greed in the real estate community of investing it does exist take your head out of the sand I will repeat myself Because I do not cater to ignorant people such as you seem to be I have met good people who are investors I have met greedy selfish people who are investors as well So don't assume as you have about my capabilities  Heres my question why haven't you reached out to provide solutions All you do it seems is point that proverbial finger at others and their opinions suggestions I hope you don't respond I don't communicate well with ignorance To the one who claims seniors are not on fixed incomes do your Research It is because Grandma Grandpa out seniors that our economies have increased and flourished They have worked many years to provide for their families etc They have contributed to social welfare for their years of service our economies in the United States and abroad have become economies of greed and dictatorship oh yes and Greed unending the haves the have nots are definitely with or without The weakness and destruction continue and will continue with corrupt governments vying for total control real estate laws we as investors cannot control monetary laws we cannot control If you doubt my theory of fact read about history and their fiat monetary laws and extinction of their currencies The cure to this economy all economies is to enact the gold standard laws for this will be the salvation of monetary law and strengthen our economical systems If the laws which govern us as investors will change Home prices Food fuel our retirement rental increase profit etc Would subside to affordability inflation would cease for all people would thrive survive in a new stronger economy/world We live in a world of imperfection we are investors We create we provide we profit but we do go against the social conventional grain We use our minds our Godly intuition to build to add to one anothers lives Real estate investing is a slow way to wealth it can be scary it has many challenges it will be a formidable adversary but it will reward you unending for you and yours Where there is a will there definitely is a way I wish you all investors creators problem solvers Gods best Words ended D My words are ended D

If I have multiple people vying for this property, is it legal to increase the asking price for the rent the same way you would do with a sale?  

It depends on a lot of factors:If you are enlisting in the military, your salary will be quite low for the first few years as an E-1, E-2 , E-3  - which can make buying a home or investment property somewhat difficult.Depending on which branch of the military, and which career path you intend to pursue, you may only be at your duty stations for a few months to a couple of years, especially early on when you are vying to get into training for your occupational specialty. 

Of course if they can land an A site for cheap rent they are all on it but is very rare for that to happen.If developer has a well marketed and well located site with high quality design and exterior build they will have MANY tenants vying for those spaces.

This recession will only be around for maybe another two to four years conservatively, which means you want to be owning the property outright rather than vying for 'first positions'.

I have two short term goals vying for top spot right now.

But, if people are vying for a job, a degree does make a difference.

My advice to anyone investing is to first determine what kind of REI property you are looking for, talk to the locals, get on automated searches, tour or have a real estate expert tour for you interesting properties, get your financing in order and get ready to "Pounce" once you see a property you want as it's still a Seller's market and many are vying for the same property as you.

I'm an avid reader and actually take pleasure in this sort of research, but what frightens me -and this is no shade to all the kindness of info offered me by some of the industry professionals here-, .... is exactly that: There is such a largess of professional brokers, flippers, money managers, agents and companies vying for my attention that at this point, my instincts tell me to back into my tortoise shell, read a few books on this, and THEN come back into this information market.

@Vy Mai That looks like a seven (7) ARM loan with a 7 yr fixed intro rate.