The unit is free-market, and I haven’t raised the rent since they moved in back in 2021.

In turn, you would raise the annual NOI.

I would raise both the same amount.

That seems weird to me and would raise red flags for auditors and I want to persue this in the best knowledgeable way possible.  

The are I grew up in declined severely and I am hoping to do what I can to give back to the community and raise the property values.

I had let my guard down and given a tenant the benefit of the doubt (a tenant who is (now was) a CEO and raised millions of dollars for a newsworthy venture).

@Nathan GesnerYes the long term tenant is under market and I plan on gradually raising his rent.The other tenant is going through a divorce and is looking to buy a home.

You are seeing it already, the nicely renovated units are having to compete on price with vintage units, because we are in a market where a lot of people are worried about their job prospects, not anticipating getting raises, on top of groceries costing 30% more than they used to.  

It would mean the costs are financed with the property and it raises your basis cost against future cap gains.  

., proven syndicators w/ track record) raise money for their deals is the next best move.