Population decline or increase in that sub market?

Financially it would be better to remain renting your primary residence and concentrate on purchasing investment properties.Better yet buy a multi unit and live in one unit while upgrading it to increase rents and cash flow..

)    - you will need to get licensed    - the insurance costs for the building will likely increase    - the insurance for an Adult Day care will be more than a retail business in that space

It's very common.The risk is that the buyer backs out of the deal later when it's taking too long to finish or they don't like the customizations.

The main thing is finding a good deal and creating enough value in some way to warrant the increase.

My goal is to increase rental income so that I can hopefully retire in 5-10 years.

What I bring to the table:- Stable income/employment history- Handy and technically minded- Great with excel and programming, should translate well to custom analysis tools and automation- Commitment and discipline to spend the next decade grinding and doing whatever (legally and ethically) it takes to be successful.Thank you for taking the time to read this, and thank you to everyone involved with bigger pockets for facilitating this community.  

I understand the principle but in almost every case, the property was bought for $X, was immidiately worth $X + 15%, then a mere 6 months later there majically appeared an incremental 20% property value increase.

I can understand a lender not wanting to get into a third position as the LTV increases. 

As of  Jan 1st 2019 I have raised the rent for both of the 1 bedrooms from $625/month to $685 One of the tenants did balk but they paid it because that is still under value by about $50-60 The garage rent has been raised to $140 from $100 The renter of the garage made no issue of the rent increase.