Generally, you do not want to increase more than 3-5% and if your property is in rent-controlled area then you most likely need an expert to help you so you don't violate any laws.4.

Certified 203K contractors must be used.

I'm certainly no expert but an exit clause always seems like a good idea. 

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.The site has quite a few tools that can be helpful for new members.

Different lenders work FHA differently so keep looking around for someone that can do the deal2) I can be, have you gone to the local REIA and ask experts in your local market?

You are typically the first point of contact, the expert on the whole process, etc. 

@Ryan Jenks  I am not a cap rate expert but I don't think your understanding how cap rate works.

Now, he is not an expert about real estate investing although he had invested in other markets in the past. 

So at this point I am not inclined to renew the lease and my question is, would you experts out there say as long as she pays on time, its all that matters?

I am a Certified International Property Specialist so I have various resources around the world who can help with purchasing / selling properties abroad.....