My strategy would be to let it cash flow initially for the next couple of years, and then if the area keeps developing, determine if its worth making substantial improvements to raise the rents significantly.There are definitely some risks with this property: many tenants are on short term leases; and there is the risk that the immediate surrounding area does not continue developing as it has over the past couple of years. 

I plan on rehabbing the units as tenants move out and raising the rents to market at that time.

Born and raised in pdx,, out in the country of Oregon City.

While we were looking at the property, the tenant was screaming at us from upstairs not to raise their rent! 

If he wants the house and just doesn't have cash for the fees, you could see about raising the sale price a little to compensate his request.

If that's the case, I would try to raise private money before going down this route, it will be much cheaper and you can stake out 100% of the equity for yourself.

Leave your business card on the door... and run away fast.They shoot people like me when they find me on their property!

So....Do I hold and raise rents to market value..1500-1750, sell all three...tax hit of 45k each, home equity loan and purchase another, sell and do a 1031.  

Are they any ideas out there that people have used to create additional income/ capital to invest in my 1st buy and hold. I have a full time job, but have been looking for secondary employment to create more capital t...

I have a job that does not pay well but I don’t have any debt except for a few hundred bucks on my credit card.