Best to call city hall for the town you are buying in to see what if any rent control rules are in place. see link below if you require additional information and call the Jersey City Landlord Tenant relations office. https://www.jerseycitynj.gov/cityhall/HousingAndDevelopment/...Jersey City CPI chart on recommended rent increases: https://cdnsm5-hosted.civiclive.com/UserFiles/Servers/Server...The state with the highest eviction rate in the country right now is South Carolina. 

They would get that $500K tax free and the rest of the tax would be deferred in the 1031.A very elegant solution that puts $500K tax free in their hands now. 

I bought 14 houses basically for free by harvesting the equity in my houses by doing 5 cash out refis.

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

Be prepared to follow up multiple times, using different forms of communication—calls, emails, and if possible, in-person visits to their office.

Quote from @Antoine Black: I have a house that free and clear and I'm trying to tap in the equity can any one help  Hey Antoine, As Mike stated, your best bet is a local credit union.

Feel free to reach out! 

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

It seems to make more sense to get into bigger deals rather than own tons of SFH.Feel free to reach out if you have any advice or if you'd want to chat!

If you need a lender for that, feel free to shoot me a DM.TYFYS and best of luck!