So if you take that same property and are able to increase NOI (by lowering Operating Expenses or increasing rents) by $50,000, you have created $625,000 in value!

In other words, the rental increases we've experienced in the last 24 months are not "speculation" but based on lack of supply and driven by intrastate migration. 

I would like to do a few things: be able to leverage my equity and be done with PMI (to balance out the increase in taxes). 

In turn I would also call and try to have your limits increased every 6 months. 

Michael:  I paid $500 bucks for some remodeling plans (yucca valley architect who is quas-retired) and he connected me to engineer/ and Title 24 guy  (new construction also requires soil test engineering and sometimes water flow testing for the water district)but I think 1000-1500 is probably  low end and 3500-5000 is high endI'm working on a hew house in pioneertown and I'm interviewing builders/general contractors (who have plans in their archives that were approved) -many plans approved in 2015 aren't valid.. because of the Title 24 increases every year and the 2016 codeNathan: exciting. yucca NEEDS some new apartments!

I think it is pretty obvious sub-metering utilities is one way to significantly increase a park's profitability. 

Current landlord is using the 2 car garage for his own storage and neither tenant has access to it - thinking that could be a source of extra revenue either offering to other tenant for increased rent or renting the space out for storage.Currently in negotiations!

We greatly need to increase our cash flow and would appreciate suggestions from seasoned investors on how to accomplish that.  

Although our market is hot, vacancy rates are low (below 5%), interest rates on a presumed 30 year fixed mortgage are historically low (floating around 4.5%) and rents are increasing with the high priced housing market driven by a lack of inventory.Unfortunately, TierraSanta doesn't have a lot of MF's but the surrounding areas hold possibility if you're flexible on your target market.

@Anna M. make sure the current lease does not have a provision for automatic yearly renewal. if it does not, it does indeed transfer to month to month. typical state law says you must give tenant one full rental cycle of notice of lease change. this means if you want them to sign a new lease, you have to let them know before jan 30, to take effect march 1. unfortunately because you are closing jan 2, you cannot give a full months notice, to take effect on feb 1. you can request moving closing up into dec though if you want, and sellers are amicable, but if you are not increasing rent I doubt it is an issue, since the current lease was provided by a PM company.