I'm hoping my odds of a rezone greatly increase if I partner with a contractor that has dealt with powers that be.I talked to a contractor earlier in the day that advised me to reach out to the zoning commission, but to do my best to avoid stating my specific address as I'd then be "On their radar." 

In the matter of days NOI has jumped $12k, sounded like there was an opportunity to increase rents, now it sounds like rents have already been increased and there may not be much room for improvement. 

In addition the rent would likely increase after the rehab so that 500 cash flow would be more likely 6-800.

Buyer Pays 15k non refundable option consideration.   7k to default amount.   8k to me.   

I don’t know why it has seen such an increase in price for the area.....

You are probably right that it will take some considerable time to actually find a deal and close on it(assuming I actually find something and have the highest bid).

Now that I am a Realtor in Colorado, I am also required to disclose that on my listings as well that I have an ownership stake in a property in the advertisements.I also have not really seen a difference with the tenant's treatment of me as the property manager vs being the owner except one time a tenant did try to pressure me into paying for a silly upgrade saying that as the owner and I could afford it and the $100 month rent increase should pay for the new ceiling [The upgrade was to re-texture the whole ceiling of a 1000 sq foot apartment because it had swirls and minor hairline cracks (built in 1920) and this tenant did not like the swirls -- changing the swirls would cost thousands and not result in any more rent]

The letter would introduce me, the updated rate ($50-$100 increase depending on rate), and a brief explanation of my policies and procedures.

My husband and I currently have 5 rental properties in BC, Canada, and due to our Reno’s and recent price increases in the area, our equity has increased by approx 300K.

Have been running the numbers on a couple duplexes/4 plexes and looking into how I can potentially increase rents once I would take over a property.