Unfortunately rents have not kept up with the increase. 

You might consider partnering to increase buying ability.Good Luck,Jim

Since our purchase the market has started to level out but noticeable increase in the value of our property nevertheless. 1 month of sweat equity and a fresh paint job, the place looks pristine. 

I would increase vacancy and Capex to 12 to 15% and plan on losing 20% to 30% of asset value.

Once you've developed a good working relationship, you can increase the amount of work you give someone. 

It has already been pointed out that property taxes will significantly increase some time after the sale.

They are increasing the price of it here pretty soon.

 $150 unit cash flow with high potential for the cash flow to increase via rent appreciation is near my minimum to refer to the cash flow as nice.  

Alyssa,You can’t raise rents in the middle of the lease, but you could inquire if they are interested in moving before the lease expires, who knows, maybe they wanted to move anyway, then you could test the market with increased rents. 

If the current tenant is underpaying rent below market value, we will send out a notification 60 days prior to the termination of the existing lease informing them that rent will be increased.