There are much smaller homes in worse parts of town renting for $1600+ currently.There is not a cap on how much I can raise rent here in SW Missouri, and my thought process was to keep the rent a few hundred dollars under the market rate so that if they decided to look around, they’d realize they can’t find anything comparable with the new increased price and stay anyways.

With Proposition 13 in California, there's a cap on property tax increases at 2% a year from the base value of when I acquired the properties.

A simple example is baseboards: if they're considered permanently attached to the wall like being glued on they're treated as a long life asset, it would damage the wall to remove it so it's like part of the wall; on the other hand if it's easily removable like being tacked or nailed onto the wall it qualifies for 5 year.

Therefore to someone else that has to pay for labor, maybe the labor cost is a deal breaker for most.If you inspect the house and triple check your numbers down to the screws and nails, I do not see how you can go wrong. 

Ken start's by hitting the nail-on-the-head, before running off into fantasy land.... 

There is no time cap on the $1M mark.I have immersed myself in many educational materials over the years and plan to continue doing so wrt multi-family RE investing.

For example, if you have a 4-plex with all 1/1s or 2/1s, then maybe you can nail their price range and be booked consistently.SFH/Duplex as MTRThis is actually what I'm doing right now.

@Andrew TaylorYes, BP is a great resource and you kind of nailed it.

You hit the nail on the head.You're right, all the benefits make it so appealing.I think it will continue to be popular in the investing community unless something drastically changes. 

There is a cap on this so once you've hit a certain production # for the year, they will go back to giving you 100% of all transactions regardless of whether or not they are your personal transactions.All the best to you on your search!