If you are going to up the rent, I would certainly give them the chance to stay if they agree to pay that number.

I intent to stay there when I'm in town, but when I am not I would like to rent it out.  

@Sam Hanaa To your original question, rent control affects landlords because some tenants stay for a long time and while rent rises with property value, the rent control stifles that.

I am a stay at home mom and I've always been eager to start my own business.

Wish you the best, it’s all about “ACTION” trying to preach that to myself to stay consistent.

(ARV x .65) - repair costs, holding costs, etc = Max OfferStarted my career with this formula and if you can stay disciplined enough not to violate it there's plenty of readily available capital to borrow.Go get it dawg!

Population is exactly the same as it was when I was born and median income has stayed relatively stagnant. 

We are very much a "no pay, no stay" state.

(I would try to stay under a 2:1 debt/equity ratio, although this might be tough for new investors).

Depends on how long you plan on staying and what your financials look like.