I have done some research about submitting a variance, but the situation does not look ultra promising.

@Nick MavrickI admittedly don't have much knowledge of the foreclosure market but I would imagine it is ultra-competitive at the moment.

Many will deed it into the LLC after getting a traditional loan, but with ultra-low interest rates, I'm not taking a chance on the due on sale clause, personally.  

I am not even going to go into mangement problems, tenant drama, domestic and violet crimes, vacancies and rent collection issues..I have seen the backend of the story as well, because I am getting calls from out of state investors, who have accumulated small portfolios of these low end properties and when they start they are loosing money after a few years they want to liquidate the portfolio which is not that easy. 

At only ~600/month seems almost as good as a heloc and I talked to my investment broker who said he's got an ultra safe home for the money with between 2 - 3 % return.   

These ultra-desirable areas don't have enough homes for everyone who wants one.

My focus is mainly in the private wealth (ultra high net worth individuals, family offices, and investment partnerships) and private equity space providing tax compliance, planning, and advisory services.

(doing 5.5% since investment property is a bit higher and we arent likely to stay at these ultra low rates forever).

Based on your knowledge, wouldn’t you say $50/unit rent increase is ultra conservative? 

This is nothing more than the ultra liberal politicians that are currently in control bribing the voters to keep them in control.