The few leads that we do get now from our marketing, we are so far off in price they are looking for and what we can buy it for, that it's not even funny.

Am I able to increase the rent?

It seems like these posts always lack in details so I will try to give the most information possible:Sale Price: $575k  Current rent: $6825 (this is topped out, no room to increase)Loan terms: 20% down, 20 year 5 year balloon  5.75% interestsManagement: 7%Insurance: $3200Maintenance/capex: $5000Taxes: $8900Vacancy: Using 5%Property is C class and in good condition (new furnances, roof, etc) No common areas.

2) Same for asking for the bank to increase the amount to be increased?   

I recently went under contract on a deal on LoopNet that cash flowed at a current 8% Cap Rate with a very easy value add that would increase the value of the property over $1.5M just by raising rents with out doing any rehab. 

If we are in danger of not having enough cash to cover our expenses, then we as owners add more of our own funds to the business and increase our equity, or obtain a loan to cover the need.We currently receive our rents through regular post, mailed to our local USPS office (P.O.Box).

@Rob K. you are so off the path its funny.

This can increase your learning curve, cut down or stress and errors.

Lubbock, TX is one of the best growing markets in Texas at that price range plus its a college town with an increasing number of students looking for student housing.

I actually find that the more technology-based business gets, my chances of success increases!!