That being said, it's tough to get over the relatively high rate of return for STRs when you are comparing them to LTR. 

Then look on VRBO and Airbnb and guesstimate rates and occupancy for your area on comparable properties.Put all this in a spreadsheet and let it do the math.

Add a short statement at the end outlining whatever you are changing, have all parties date and sign, and you are done.Example: "Landlord and Tenant agree to extend this lease for an additional 12 months with a new termination date of 12/31/2025 and a new rent rate of $1,950.00 per month."

New construction may be an option, many builders are offering rate buy downs and closing cost assistance and then you get quicker appreciation when they continue to build out the community.

Navigate to the 'More' drop down menu. 5.

Many tenants limit their searches to round numbers; I would drop the rent to $1495 and see what new activity the market generates.

Also, in our experience, 95+% of agents have no clue how to calculate ROI, Cash-on-Cash, Cap Rate, etc., so what are they really going to help an investor with?

I'm looking for a PM group that has a reasonable monthly rate, manages tenant selection well, addresses property issues with quality, and conscientiously and actively turns properties when vacant. 

Based on the number of units and rental rate the reported cash flow was very light.

It seems like you have a reasonable down payment available so offer them a reasonable interest rate.