A few years ago I started drawing up leases for my mom and I was in charge of renewing leases and for the first time she has asked me to increase a tenants rent.What is the proper procedure on increasing a tenants rent in New York City? 

You should take some time to read some books and analyze the market you will be investing in.Some books I would recommendCrushing it in Apartments and commercial real estate by Brian MurrayRich Dad, Poor Dad by Robert KiyosakiThe One Thing by Gary KellerThe Millionaire Real Estate Investor by Gary KellerOn your first flip - I would suggesting hiring a contractor to oversea the whole procedure.

The only way you can be that 'daring' is if you REALLY know your market, repair costs, ARV, financing and closing procedures. 

Ohio has a procedure that can be planned for to some degree, but where it's heading in terms of $$ can be vague.

The Seller doesn't know much about how protocol/procedures work in the real estate arena and we are trying to avoid using our RE agent to lower cost of purchase so we (my business partners and I) trying to do as much legwork as possible.

An architect should be able to tell you the cost and procedure entail for the conversion.

Also, there may be state regulations as this would be considered a form of submetering, and you need to ensure that you follow the procedures that are outlined for compliance.

Has anyone been through something similar and can provide a bit of insight into the process/procedures?

The best way to serve your client/customer is to provide clear policies and procedures and then stick to them.

Fellow Illinois landlords and property managers,A year ago I rented a home to two individuals who met most but not all of my minimum requirements.  In order to mitigate risk, I asked that they provide 3 months of secu...