On a DSCR loan, this is the only income on the loan, and on conventional it is a supplement to the borrower's other income. 

@Garrett Stockton many have tried, and more more are trying to use software to streamline and replace/supplement people in the process.All sounds good on parper - then you have to deal with lazy & tech-UNsavvy tenants and owners who want everything spoonfed to them.

Call Michael here every time you have a question...I'm sure he knows a ton about making 10's of millions and is more than happy to answer all your questions for free and take you to the promise land.I'm just over here running a development company (Green Elephant Development), a wholesaling company (Sell Quick For Cash), an education Company (Clever Investor), another education company (100 Million Academy), 2 high level masterminds (Avengers for REI Investors and 100 Million Mastermind Experience for entrepreneurs), and a supplement company (Osnap).I think Bigger Pockets is freaking awesome.  

.$300 below market is $3,600 that you are supplementing him.Tell him you've changed your mind and will not extend his lease because you need market rate.

I will want to investigate other options as well, while I more fully investigate seller financing as a way to supplement retirement and spread taxable gains over years as opposed to one large taxable event.1031 exchanges are very useful while you are accumulating income producing properties in retirement I'm sure that I will not want to be on call to take care of property needs.

In ten years, it will be worth the same as $748 today.The takeaway is that no matter how many properties you own in a city where rents do not outpace inflation, sooner or later you will be forced to get a job to supplement your declining rental income buying power.How do you select the city?

My supplemental taxes list the "land" value as $1,300,000 (73.5%) and the "improvements" as $470,000 (26.5%).

I'm pretty conservative so I'd want to know that I could afford the mortgage comfortably without the supplemental income and then that income would just be extra I could pay down the mortgage with. 

I also supplement my income with Ebay, and my Laundromat, which would also factor into that 10 year plan.

Hey Joseph - Like you, I use TurboTenant, supplemented with other platforms and customized spreadsheets, integrated through some automation and delegation.They're rolling out a more robust maintenance portal which should save you some headaches too.