I do live in a small town, which I think would be easier than a large city, but I'd do it on a large scale, too. The

If DOMs are going up, that’s bad too. The

If any of the mechanicals look long in the tooth, replace with new. 

If you decide to work at all with a property manager, look over the contract with a fine toothed comb to ensure you understand all the ways that they are getting paid and any protections it provides you. 

Go over the contract with a fine-tooth comb, and strike clauses that don't sound right.  

They put drop ceilings in many rooms to catch and mask this, but the drop ceiling also failed one day, with (plaster?)

This bull market feels a little long in the tooth.  

If you want to keep this tenant, and keep that rent money flowing, I think you need to go talk to the housing authority.But, my opinion, is that as long as the seller also notified the HA at the same time as the tenant, you would also have to honor the 90 day notice, unless you want to negotiate a new lease.Obviously, I know enough to be dangerous, but I'm not an expert :-)  I think your next step is the HA, and they'd be free to talk to, too.  the

The HA pays the difference up to the max rents they allow.I think all you need to do is make an appt to go into the Housing Authority and tell them you want to start charging the max payment standard for your units, and find out how to go about your new contract with the housing authority, and you probably have to give new rental agreements to the tenants, too.  The

Google everything (numbers, names, email on person, addresses, places of employment) Check credit, income and rental history with a fine tooth comb.