Unless you want to continue having negative cashflow, you pretty much have to raise rents.

After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

I assume you got a better interest rate, and I know you are saving a boatload of interest. 3) imagine year 11-30 where you are cash flowing thousands with paid off properties instead of hundreds because of these lean 10 years. 4) hopefully you can raise rents at least $100 each every year and in 2 years your cash flow neutral even with preferred short term mortgage. 

With the use of VRBO, Booking.com and direct bookings can all raise your chances of staying booked and being successful.  

If you are doing long term rentals and raising rents, you will have turnover of a significant number of tenants after their year of renting when you raise their rent.

I always bill back water/sewer/trash before raising rents. 

Are there other legal or financial consequences I should be aware of?

Financing contingency is there if you can't get the loan at the amount you thought, interest rate is raised or your payment changed higher than you put in the loan could give you an out.

I don't want to only be an investor, I'd much rather be a GP and lead syndicates, raise funds, all the things I've been doing already with my recruiting agency.

How much can you raise the rent?