If looking at just net rental income you should not expect an increase in your tax bill as depreciation will drive you into a loss that will either be:1.

That on top of the escrowed payment of 1 year of property taxes and insurance upfront (which was not disclosed to me, until I got a loan estimate) has also increased the down payment by $7,500.

Is that too much or should I gradually increase overtime.

There are extra features that will increase the value of the house so the range of ARV's can vary.

Also, you probably want to make a 1-5% increase each year for inflation as well.

In addition to Driving for Dollars, you can increase your mailing for money by working with a list broker to do more Mailing for Money.A lot of people have had a lot of luck mailing to Absentee Owners.

It’s currently half way through a 15 year note from my uncle and the rent has increased $225 a month already in 5 years plus all of the equity sitting in it.

Find ways to cut down your living expenses and get a second job to increase your income. 

I am not sure what the plan is in terms of metering each unit and passing that cost on to the tenants as well as other improvements that could increase rent, however, those costs should be part of the negotiations and hence on the overall price.  

And in the short term I need to find a way to increase my annual income.