Try gradually raising the rent.   

I have read about increasing the rent gradually over time in order to keep the tenants and not have a mass exodus.

So I have a hypothesis - that the high mobile home park cap rates are an illusion - that in the long run (ie holding periods of 20-40 years) these cash cows are giving you a return OF your capital, not a return ON your capital - i.e. a gradual liquidation.The reasoning is simple - if your customer base is stable because they are so poor they cannot afford to rent an apartment, how in the world can they afford to maintain the mobile home they own in a habitable condition over a very long period of time?

We would prefer to retain the current tenants and gradually increase rents.  

I've seen a similar hole from a broken sewer line, where it eroded out a little cavern gradually, every time someone flushed the toilet or took a shower, etc.

The slowdown in the real estate market is now a reality and I am glad to see that it has been gradual until now, as a steep decline will certainly push us into a recession.

It is this gradual reduction of interest payments and gradual increase in principal payments that reduces the Interest Rate to the Yield to Maturity.

Start informing them about your real estate plans and begin to gradually educate them, if they don't have any prior experience, on investing in real estate and how they can either be the bank or an equity partner on a deal.

Welcome to BP Tim GrenierSince you are new Check out the Free Beginners Guide Keep reading here an it will gradually become more clear which direction to go.

I've been gradually and conservatively building my rental portfolio in Seattle and more recently, Burien for a bit over ten years now,  I've got 3 properties and 8 rented units.