However, if solid cash flow is what you're looking for, Lehigh Acres is another area that can produce much better numbers, and still retains that decent appreciation potential

Plus they only retain the information for 60 days.

Apparently I SHOULD have retained an attorney, (and I have several friends who are but didn't think I would need one).  

I do not retain tenants that do not comply with their lease.

Often times with attorneys, they only notify you about the retainer fee.

When I notified her that I would be sending an itemization of charges including rekeying and deep cleaning due to pet waste, she responded that since I didn't provide an itemization within 14 days, I've forfeited my right to retain any part of the deposit. 

Would also like to know your strategy on retaining the same number of units and dealing with the inconvenient unit mix of smaller studios & 1beds compared to converting units to larger 1beds and 2beds but losing your total unit count.  

We added a small retaining wall in front and French drain on side of home for approx. $2,000.

I personally would spend $500K to pay cash for B/C single family rentals in the Oklahoma City urban core and retain the remaining $100K for an emergency fund.

DOWNSIDE; you may be losing more $$ and if you only do small increase it  will make you slowly lag farther and farther behind market rate and lose even more $$You will get about a 50:50 response for either camp....... ultimately its up to you.I personally do yearly increases that keep me 5-10% below market, retain good tenants and avoid turnover..... but some prefer to jump right to, "get it at market, if they leave they leave"