If you haven't signed a lease, yes, you can raise the rent (as long as you don't treat anyone differently and give everyone an opportunity). 

Also I don't EVER sign a 12 month agreement with the PM, if you don't like something they do you need to be able to get out quickly.

We have all rolled through a few stop signs in our lives, right?

They offered to sign a two year lease if I lowered the rent to 2600.00 a month.

I’m using a personal line of credit to fund the transaction.

I am not saying this to be a jerk but to encourage you to think about new ways to find leads; bandit signs (almost always illegal but very effective), door hangers, knocking on doors, buying a direct mail list.I hope that you are able to make this work.

Don't overlook a sign on the building. 

I know that I could close this deal using a double closing with a transactional funding lender but of course I'd like to minimize my fees.

Instead she had her daughters husband fill out the report and says he will co-sign with her on the lease.

My wife tried co-signing, but now the bank wants me as a co-signer too.