I just bought a lovely 8 unit last April that had been horribly neglected but have turned it around and done some cosmetic renovations and increased rents.

I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

It's not just about the rent (which is huge!)

My goal is to rent it out to start generating some cash flow.I’m planning to remodel the kitchen soon, and once that’s done, I’d like to move out to make the apartment available for renters.

Well even if the rent is equal to the mortgage, you'll still be in the negative after repairs, CapEx, vacancy, etc.Why would you specifically be thinking of investing at a negative cash flow?

This level of scrutiny drastically reduces the risk of renting to unreliable tenants.Realtors vs.

Just reduce there rent by $5 and they will be happy to do it.

Or how to put the unpaid rent on their credit score

Expect a higher rent rate, but also higher turnover and longer vacancies.I've rented to dozens of traveling nurses and would say about 50% of them were nuts.

Raising the rents will not be as easy as merely sending out notices of rent increases.