See subsequent items.There is turn over risk raising rents.There is costs in unit turn over.There is risk in getting new tenants.There is effort involved in raising rent and turning over a unit.Why should the current owner weep the benefits of the effort and risk associated with raising rent? 

So I am in my last semester of completing a general associates degree.

I am Connecticut raised, received a degree in architecture at Wentworth Institute of Technology in Boston, Massachusetts, and have been living and working in architecture in Denver, Colorado for four years in June 2020 with experience in developer driven SFR, Duplex and Multifamily as well as custom single family residence design and project management.

The Association normally have tools that will help identify distressed property such as remine.

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

I am assuming there are fees associated with that so also curious what those fees would look like?

@Justin Triplett  It's great that you are pursuing a marketable degree. 

Theoretically if getting a hard money loan is expensive and risky you could characterize ANY loan as expensive and risky, they're just varying degrees.

I am a contractor and do most of the work myself or with one of my subs, so I know the costs associated and can handle completely renovating this area in order to raise the rents to $550 which is on par for even the cheapest other rent in the area with a huge demand and limited supply.  

- That's a pretty bad situation especially considering that self-showing may very well void their insurance and your insurance as well - thousands of dollars in damage, how and who will pay for them and the vacancy associated with such?