I didn’t even think to consult an attorney, it could be worthwhile.

It really isn't that different than wholesaling improved property other than the price points are a lot lower, the spreads thinner, and the market for them a lot smaller.To determine if it is even worthwhile, check out the comps in the area for move-in ready properties.  

I just didn't see any deals for investors or deals worth while.. the rest of the categories just didn't posses any or very little upgrades. it turned out to be a waste of time and money for me. 

Thinking it was sleazy, illegal, and not worthwhile. 

Acquiring wealth is not easy, nothing worthwhile is.It's also important to know that you don't necessarily need a huge pile of cash to start investing. 

@Thalia Georgopoulos  no, that won't exempt you from rent caps.However, as stated in the bill, you can remove tenants for no-fault just causes(2) No-fault just cause, which includes any of the following:    (A) (i) Intent to occupy the residential real property by the owner or their spouse, domestic partner, children, grandchildren, parents, or grandparents.As long as your property is considered residential real property, the bill says you can move in and get rid of the tenant as a no-fault just cause.However, according to section (d)(1), you will be responsible for their moving expenses, equivalent to one month's rent.If you are way way below market, this could be a worthwhile solution.There are so many loopholes with this bill, unsurprisingly.

@Matt Higgins I'm guessing that along with the rent increase from $400 to $800 you probably invested in some needed repairs/updates in the property,  and its a lot more likely that your operating budget now covers all expenses, allows for ongoing basic maintenance, and makes enough return to be worthwhile to you.    

Remember that if the tenant moves out of the property you will likely be spending thousands of dollars on cosmetic updates to be able to capture the higher market rents so it may be a worthwhile option to meet on this middle ground value for rent and keep them on a month to month so you can get a sense of the quality of tenant they are.

So I wouldn't find it worthwhile to move for a 6% savings.

While pursuing financial freedom is a worthwhile goal, it is not the end goal, but only the beginning.