I also work a full time job wanting to transition into Real Estate full time. 

How to change the rent without losing the tenants and how to make the transition.

You could transition a unit to short term or furnished month to month to achieve 1% These are both great strategies in a campus environment and have worked well for my house-hacked triplex near Ohio State University

You will be chasing rent while being transitioned back to your drama filled junior high days.My .02, if you are looking for push button money, this ain’t it!  

After putting into calculator, this is what I got(assuming tenants pay utilities and a flat fee for water, sewer, garbage disp, area is good for renting out as it is close to downtown and highways and transit; Property is built in early 2000s.): https://www.calculator.net/rental-property-calculator.html?

Often times if it was built as a garage the building department will not let you transition it into a carport.

We are investors that are looking to transition into Mobile Home Parks.

Or at the least are there multiple ways to exit the investment.It feels like to me that you are going for a new build in a transitional area where the rents wont really pay for the mortgage.IMO I would rather take my changes in other neighborhoods, or surrounding towns. 

I personally invest and help many of my friends and clients transition into RE investing.

Hello Darren, the main part you are missing is we are now transitioning from a sellers market to a buyers market.