but your taxes and HOA will increase as well. in a downturn you go negative. 

Send in a ton of paper work FEIN, rent rolls for SFS, 3 years of tax returns, 24 lease agreements, contract, p&l on complex, I gave them a 5 year plan of expected rent increase vs expenses.Scheduled walk thru- Due diligence time.

Now we need to give her rent increase notice, can we increase her rent based on $650?

I looked at New London and think it's a fantastic town, probably going to see increases in value IMHO: its got great "bones" as a city, is starting to "urbanify" (trendy places starting to open) but it's way behind the curve, and it seems to me the hipsters there are still young and haven't started having kids/figuring out how to make the city work with kids--so prices are dirt cheap.

But the best and most invaluable part above and beyond your increased ROI is the hands on experience.

I not only help prevent a foreclosure which ruins your credit, I increase their credit by paying off their mortgage of a house they (more often than not) no longer want.

My attorney advised that I could put up a non-refundable option fee for maybe $100 - $500 dollars for a period of time that goes by and then increase for each # of days that goes by in the contract, so for instance:(Option Fee - not Earnest Money)$500 give to seller 3 days after contract is signed.If close hasn't happened within 15 days, give them another $500.If close hasn't happened within another 15 days, give them another $500. 

Tenants tend to think “automatic massive rent increase” when they hear a property is for sale.

A lot of the increases in market value and cash flow were earned through sweat equity and a lot of hands-on-work.

If she finish up the garage (which will increase the property value thus higher property tax), let's say maybe the rent can be increased to, say, $5500/mo.