Fair market rent for a property is based on things like number of bedrooms and baths, size of the property, condition of the property, amenities, desirability of the location, etc. 

You have to be very careful when you are the best option in your little area, that you don't overestimate the desirability of the area.Why would I live in your building surrounded by crappier buildings, when I can live in the same style new building surrounded by new buildings for the same price?

Let's say you buy a 1500 sq ft home on a big half acre lot in a desirable area, tear it down, and expand it to 4000 sq ft.Would you go by sold houses price per square foot in the same area?

I do not discriminate against military - as I am a veteran - which is part of the reason I gave these three military females a chance, even though 2 had less than desirable credit.

@Lennon Lee I agree with you that it all comes down to their desired lifestyle they want to create for themselves.

Some housing authorities cap rental rates paid however if you can achieve your desired market rate (you can deny a s8 tenant if the housing authority won’t pay your requested rental rate) then why not.

Property managers who are also knowledgeable on renovation and turning over units is highly desirable!

Given it would be 30-35 mins to downtown in off-peak hours, is it still desirable rental friendly area?

@Evan Oxenhandler, I would likely keep the properties you currently have and leverage them as the down payment on as large of unit apartment building/complex as it would allow.The exception would be to sell any of the “less desirable “ units now (after identifying the prospective new apartment), at the peak of the market, and 1031 exchange that/those into the new property.Best of luck!

We have no desire to deceive anyone about who we are.