Rent rates continue to increase and you dig yourself out of the negative cash flow;2.

@Jacqueline Lee I'll 1 up what @Evan Polaski mentioned....Each jurisdiction and city is going to be slightly different, but at the surface there is generally slightly more paperwork to get your property approved and into the system, but once you get it up and running and the first tenant in there, its generally straight forward to get the rent increases etc.A good place to start would be your local housing authority, they may even offer "Landlord" classes to understand the system more.  

Things like valet trash, cable contract reimbursements, RUBs, common area expense budgeting, proper staffing levels, AI revenue management, PPMs, subscription agreements, blue sky filings, commercial lending standards, commercial building codes and permitting, ADA compliance, etc.  

If you asked me 5+ years ago where house prices would be in some of the areas where I have rentals, I never would have guessed how quickly they increased and are now double what they were. 

You also make no mention of dividend payments in non-direct recognition policies that increase cash value over time regardless of the policy loans outstanding. 

This is standard procedure for real estate acquired via tax forfeitures (I no know), but the billable hours in the research part are high. 

You would be increasing the amount of work you have to do for the exact same yield.

I am not saying Belair Edison is right for you, but if you know it well it will give you a standard by which to judge.

The shorter the prepayment term has an impact on increasing the rate.4.

My question is can I legally modify the lease to add the 2 additional adults and increase rent by $600/mo?