I was wondering how often do you increase rent, and what % do you usually increase it by.

gradually increasing rents?

Not to mention the improvements will result in a 200-250 a month increase in rent, reduced water use and electricity.

I noticed that the lender increased my mortgage insurance (MI) premium to almost double the original amount. 

While it may be too late to increase the rent for May, you should not have to wait a year. 

Even if you increase that 2nd unit from $750 to $1000, doesn't seem to cash flow that great after maintenance/vacancy (i used 15% in my modeling).my 2 cents. good luck! 

So my expectation is that went a loan comes due, I'll have the funds to pay it off in full, and if I do not or would rather not - I shouldn't have any problems refinancing with the same or alternate lender.Plus, if the property has appriciation during those 10 years or is a 5-Unit (or more) multi-family that has been maintained and managed well (increasing rents), it should be worth far more than owe'd, further making it easy to refi.

Renovations are being done and rents expected to increase to $1500-1700.

I am considering increasing my home insurance deductible from $1500K to $4000K.

You could possibly AirBnB the bottom floor and increase the monthly income.