Would your existing tenants stomach that much of an increase?

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

We believe that we are lowering risk, increasing the average expected return, and leaving the upside unchanged.   

I like the cash flow and see the potential for increasing rents, but I’m hesitant about overpaying.

Some strategies to get around are:1. leverage your current portfolio and buy in cash, increase value, and then refi2. buy Multi-family so your ratios aren't the main factor to lenders3. get in with a lender for high net worth individuals4.

Thus increasing density ratio.

I've been gradually increasing rent.

As long  the tenants pay the rent each month, increasing their rent will be very tough and getting them to leave will be extremely tough. 

The tenant base, on average, tends to be rougher on the properties, moves more frequently, and cannot absorb any rent increases.