The investor must consider whether the potential property value increase or other benefits outweigh this loss. 

Increased demand for housing, both rental and ownership, can really open up some interesting investment opportunities.

Do you expect it to turn around, and/or is there anything you can do to help increase revenue? 

I've just closed on two turnkey deals in Memphis and so far it's been a good experience, so just weighing my next options and I think the BRRRR method will very likely increase my CoC return so just trying to build up some contacts should I decide to go that route as my next experiment. 

Demand for housing and rental has increased significantly.

Hello @Kenji Tominaga,Agreed with @Chris Seveney regarding having the owner offer cash for keys.Since there aren't many options on the market that can compare to the deal you have in place, I'd recommend waiting it out (if possible).Chances are, the value of the subject property will continue to increase while you wait for the tenant issue to be resolved.

So we don't allow month-to-month up front but upon renewal, will allow month-to-month but at an increased rate. 

I hope this will only increase my amount of knowledge and networking.

I was in a similar situation when I first started ( mortgage was a large chunk of my salary) Thankfully I had friends that I was able to rent to that basically paid my mortgage and eventually my income increased enough where it was not an issue.what area of Denver are you looking at?

SO this upcoming July we renegotiate the rent and will be increasing it.