Damn straight!

My outstanding "accidental landlord" property actually LOSES about $100 a month, so I would love to have his problem!

I told him I could only finance $20000.00 of it (at 5% interest over a 5 year period) because I have an outstanding balance on the loan of $35000.00  if he could obtain a loan for the other 35000.00 I would be willing to consider it.

From purely a cash flow prospective, this does not look like an outstanding deal.

The tenants either 1. have outstanding balances with MLGW (Memphis Light Gas and Water)and can't get their services activates or 2. can't pay the monthly bill due to fixed income.

Apparently ~60-65% of existing homeowners’ outstanding mortgage loans carry a rate at or below 4%.

That's with Scotiabank, I got way less than the "80% minus outstanding mortgage" that I had heard about.

You need to ask why.If your tenant is legitimately late on a consistent basis, then yes, you need to get him out.If he was late once or twice but otherwise has been an outstanding tenant who takes care of your property, I would follow the advice of your PM with a smaller increase.All that to say, if you think it's severely under market value, your PM needs to have an open and honest conversation with the tenant letting them know so he can expect a large increase at time of renewal.

Next time someone says "Bay Area real estate is too expensive, and unfriendly to landlords because their a bunch of evil lefties, and it's impossible to make anything cash-flow positive, and the cap rates suck, and bla bla bla," I will refer them to this thread and your outstanding success in....

Any lawyer worth a damn will find it.