Would your existing tenants stomach that much of an increase?

By the 3rd or 4th year if they aren't the same or have increased we all prob will have bigger problems

You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

Since getting started we have learned a lot and have built quite a few systems and processes to increase efficiency and maintain consistency within our business. 

Putting that amount into it will only increase the loss.

That property is now a reliable source of rental income and a constant reminder that success starts with taking action, learning on the fly, and embracing challenges head-on.

I am thinking to switch to online rent collection from receiving checks in the mail, but worried that receiving 1099k will increase the complexity during tax filing time.

The end product will be great, as others have mentioned perhaps in other threads, Delta has not increased any of the cost, so there is still a huge equity upside.

I would also recommend increasing your liability coverage to at least $2M.

As rental rates increase, cash flow becomes strongly positive.