How easily could you raise the occupancy? 

But I was born and raised in metro-Detroit, and do plan on investing up in the Michigan area at some point.  

We plan to wholesale to raise capital to buy long term multifamily rentals.

@Jordan Santiago far easier to raise equity from individuals when there's no waterfall.

So as long as regional prices (what CPI measures) and in relation average salaries/wages (more pay = able to pay higher prices) are going up, the landlord can continue to raise prices.Another thing I noticed in the bill:  "§ 214 (B) THE TENANT IS VIOLATING A SUBSTANTIAL OBLIGATION OF HIS OR HER TENANCY, OTHER THAN THE OBLIGATION TO SURRENDER POSSESSION, AND HAS FAILED TO CURE SUCH VIOLATION AFTER WRITTEN NOTICE THAT THE VIOLATION CEASE WITHIN TEN DAYS OF RECEIPT OF SUCH WRITTEN NOTICE, PROVIDED HOWEVER, THAT THE OBLIGATION OF TENANCY FOR WHICH VIOLATION IS CLAIMED WAS NOT IMPOSED FOR THE PURPOSE OF CIRCUMVENTING THE INTENT OF THIS ARTICLE;"  This sounds like if the tenant violates the lease agreement and does not fix it within 10 days of notice you can evict

The best thing to do would be to syndicate the deal and raise the capital from investors.

I'm also worried about raising the rent in fear that they might leave.

I was hoping to raise cash, pay the seller, lightly rehab the two units (they’re both already in good shape and wouldn’t take more than 3-4,000 each to make them higher end rentals in the area), raise rents (at least $100 too low per unit), and then refinance out in which I think the property would then be worth north of 100,000.

Rent has been rising in this area faster than I've been raising it.

@Kyle Mitchell, I am curious how your price per door is below target if you are at the price you were hoping for.And, as others mentioned, what was the primary metric you used when raising capital?