And when I buy and sell real estate in Cincinnati, they also give me a discounted rate on sales commissions and fees.Please let me know if you run into a reasonable insurance company in Cincinnati that has good customer service and great rates.

I want to send a notice introducing us as the new owners and giving them notice that in order to renew their lease they first must consent to a criminal, credit, and eviction screening under our new minimum qualifications/new lease terms for all persons over the age of 18 that live in the home and also inform them that rent will be increasing November giving them the chance to stay if they want  and meet our rental qualifications or decide if it's best for them to move.I want to know does this seem reasonable and if there are some things I should consider before moving forward with this plan?

Refinancing could be an option, but I don't want to end up in a position where the increase in P&I payments would negate any Rental NOI.

Average home sales prices increased 6% to $172,152.

As far as the number of units it doesn't matter, you can get 4-plex after 4-plex as long as all your VA loans don't add up over $424,000, that it is increased in more expensive areas, over $700k in the Bay Area, Hawaii etc. 

I think 1031 exchange might be in my future, or an increase in rent.

With the flood insurance cost, this unit will be neg cash flow unless I increase the equity in the unit which brings it down to less than 5% cash on cash.

My question is: is it possible to raise the rent up to market rates if a new tenant is placed, or does the unit need significant upgrades to justify such an increase?

I think would like to renew, but they've occupied the property for some time and the rents in the area have probably increased.

It was not our primary revenue stream but we owned/controlled the adjacent scrap (empty) land and it was a very small (and inexpensive) lot but convenient for 'customers'... but I'd do it again in a heartbeat if I had a similar opportunity.