after 2 consecutive years of 0% rent increases on 1 year leases and now only a very minimal increase they are proposing a bill that, (ready for this one??!!!)

We are also going to move a few non-structural walls around to increase the kitchen size, convert the hall half bath to a full bath, and turn the current full bath into an en-suite for the master.Exterior we are replacing the siding, windows and doors, and paint the brick white.

The great thing about buying SFR for a cash flow rental property for the long term is even if values drop in the short term because of a down economy rent prices increase because no one wants to purchase housing when home values are falling.You just need to be a little careful in the area that you are trying to invest.

When you purchase with an FHA loan and a 3.5% down payment you will need to pay PMI until your equity increases another 16.5%.  

What are you seeing in Pueblo, values increasing?

This would increase the overall raise amount, address our challenges of raising capital per project and the returns would be shares of all the projects.

How do you best utilize all the resources (networking, podcasts, resources) that BP has to offer on this site to increase your net work while decreasing the time it takes you to achieve your goals?

Thanks for the guidance on building the "vision" for someone else too, I have pretty decent contacts in the architecture/building industry and can probably get some good feedback and estimates too.For multifamily I initially thought about starting with residential as it would be my primary residence; however I am still educating myself on commercial multifamily and it is quite attractive from a financing and market stability perspective.

You can offer to move them into the newly renovated unit at the increased price and with a standard lease.OR you can tell them that the rent is going up $50 every 6 months until it hits market and that you will be requiring a standard lease going forward. 

I think we will go with gas since we will have to live there for at least a year or so, and the tenant we are attracting is a long term, large family or group as this is a 4bed/1.5bath where I imagine they would cook more.