Perhaps If you are a successful bitcoin trader, then sure. give it another year before deciding if you are a successfully trading bitcoin.  

He's a long term tenant because his rent is really low compared to the market and he's gonna think your the greedy landlord if you raise rent that much so I would just start with a new tenant at market rent.

I'm a stock trader out of Orange County, CA by trade but after 13 years or so in the financial sector I'm plotting my escape.

I tried my best to give an honest working man a chance while not being a pushover or a greedy landlord. 

I am not trying to be cutthroat or a greedy guy.

As long as one finances the purchase of a property with a loan interest rate that's at least 2% less than the cap rate, that property will yield a positive cash-flow--the larger the spread the higher the yield.Nevertheless, I'm cheap and greedy--just like my mentors taught me to be.

As Warren Buffet said, "Be fearful when others are greedy and be greedy when others are fearful".

If anything ends up happening to these awful tenants, the headline on CNN is going to be "greedy landlord tries to forcefully remove tenants instead of going through the courts" My best advice here is to speak to attorneys and at least hear what they have to say about best course of action.

Maybe the tenant will be pissed that a greedy vulture and investor purchased his home and now he's going to make him pay.

@William C. you make a good point with the appraisal being accurate and the turnkey provider being greedy with the list price.