Well, that 10% rent increase is mostly likely free and clear due to expenses staying the same. 

Recession resistant asset class (people downsize, move in together, move back home, etc. during recessions)Cash flowing asset (not dependent on market appreciation)People buy a lot of crap and toys during good economic times (and need a place to put it)75% of the facilities in the country are owned by non-institutional owners (opportunity for adding value)Small ($10-30) rental increases create large increases in NOI and property valuationSticky tenant baseUnits are easy to maintain (brick and metal, no amenities, little landscaping)Location, population growth, and barriers to entry matter. 

Also is it wrong to talk to more than one realtor, since I'm just starting out and have not built up any working relationships with anyone, to increase the odds of finding more property?

I had someone record the entire session, so if you want to take a listen, I'd be glad to send it to you so just email or DM me.

Rent has not been increased at all over the 4 years and most of the rental rates are $550 plus in that area.After running the numbers via the (awesome) BP rent calculator, it looks like cash flow will be just over the $200 per month and ROI at 30% (on a 30 yr at 5% interest with 25% down).

My partner and I have some great working relationships with local banks and lenders, allowing us to leverage assets to increase returns. 

By all indications, no work has been done on the house between October and July to justify a $20K increase in the asking price.

I'd ask for a higher security deposit based on the strength of the applicant.Also, don't forget to put yearly increases in your lease and make it NNN too.

This way I can also make more offers in less time and still increase my odds. 

My first buy an hold opportunity..Triplex - Fully occupiedlisting price $170,000 (DOM: 73, CDOM: 257)Unit A & B: 2/1, Unit C: 1/1All 3 units rent for $550 (room for increased rents)*Seller is willing to carry back a first trust deed with a 20% to a 30% cash down, 3-5 years at a 8% interest rate.