At 10% ($72), it would take 7 years to bring rents to market (this is simple math that doesn't compound rent increases but also assumes no increase in market rent over that same time, so it's probably close to a wash).  7 years is unrealistic and makes no business sense.  

The tenants in the creative houses also have access to the compound and can interact with the other creatives. 

I recommend "The Compound Effect" by Darren Hardy and "The Talent Code" by Daniel Coyle.- Consider joining a team for 1-3 years.

Hi Jonathan,That tenant is paying $1400. for a room and its own bathroom, kitchen privileges and utilities included.

They dont get special privileges because of that.

@Shalini Chawala Depending on the property and the quality of the washer and dryer we may charge an extra $50 rent for the privilege of having them included.

(A suggestion: if you don't already, I strongly recommend using a late fee that compounds daily.

The only thing I could add to James's comment is that developing the full stack of skills you will need to make it in low-cost rental properties is that it helps greatly if you grew poor.A privileged upbringing creates a huge bar to entry to this real estate niche as far as I've seen.

.) :-) Thankfully that didn't put a sour tast in our mouth but only drove home the desire to LEARN about real estate and becoming entrepreneurs in that space.So if anyone is near me either in Va or North Carolina being that I'm only hour away from Durham would like to reach out and network it would be a great privilege.

If I were a renter, I sure wouldn't be throwing money at everyone in the form of an application fee just to have the privilege to view the unit.