The restrictions vary by location, but they can impact guest satisfaction and demand.

If you have a high level of faith in the company you are working with, then time will do what it is supposed to do and increase your IRR.  

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

But once I got the bills, I increased the rent with the tenant's approval and signed an addendum to the lease stating the rent increase would be X and the owner would take over utilities.

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors.

This would increase the benefit to where the fee would not be so outrageous that it would hinder the investment.

With the COVID-era surge in home prices, rapid increases in mortgage rates, and rents not keeping pace, it really has gotten harder to make these deals work.

Increased revenue and decreased parking demand allowed us to carry income-restricted units as well.We originally planned on spinning it out into a brand, but we never had the bandwidth to do so.Our largest hurdle has been education as most of our tenants are coming in to rent traditional units.Investors did not love it. 

Also keep in mind as time goes on typically your yield will increase because of the rent growth.