I'm actually opening another business with a partner, a downtown Lounge and Bar (I have 15 years restaurant experience before I was a Realtor) and I want to use that space to host monthly REIAs.

We still need to vet the potential tenant and I know restaurants are tough, but we can always switch it to retail or office space if need be.Purchase price was $246K.

It's harder to rent a 1bed unit because people want a guest room, an office, workout or storage space, etc.Preference is 3bed/2bath in my market.

@Alex Bilinovich the best would be a house but if that's not in the question then a barn or some kind of commercial space.

There are 5 current tenantsWith one more space availableUnit one is at $500Unit two 500three 1000 four 500five 500 this is the largest unit and way under priced on rent  

Not sure how the heating/cooling is in this home but perhaps you’d consider looking at your states green incentives for installing a heating & cooling air source to your tenants spaces.

Being that I don’t want to pull the rug out from under these people, I’m considering raising rents to 1200?

As a broker in this space, how are you seeing things in comparison to what is in the report?

Hey Guys,I'm a new investor in South Florida looking to get into the multi-family space. 

I am planning to replace the carpets with luxury vinyl flooring in both the living space shown in the picture and the bedroom.