If you never raise rents on an existing tenant in a rising market, you may end up way under market and not keeping up with increases in insurance, taxes, planning for future capital improvements and other expenses.Small increases when the market is rising are a very good way to keep a good tenant as they won't find anything better when they look around as long as you keep it on the low end of current market.    

I am from the island I am there 70% of the year just set up an air bnb In a town la parguera. very touristic and hard to purchase area. if anyone is looking to invest anywhere on the island I am here to assist and help anyway I can.

I am doing this purely to improve the look of the house.  

@Mike WoodLot is $12600 - lots are cheaper here since the developer does not have to pay for the infrastructure improvements. out of pocket.

With that said, they are trying to improve the area.

A local agent he contacted said they would recommend listing at $11kAn improved property in the area recently sold for $95k (1/1, 702 SF):  http://www.zillow.com/homes/for_sale/Costilla-Coun...I'm such a newbie working on investing here in FL and have never worked a deal in raw land, so I have no idea how to steer him in the right direction.  

I am always looking to improve my handout.

Anyhoot, I am finally coming to the end of attorney review on my first deal and I am up in the air with what I want to do with the property.  

As someone who has always felt at odds with the traditional life script, I've realized real estate was the perfect avenue to utilize my unique skill set to build wealth for myself and my team, while simultaneously improving communities along the way.Currently I’m focused on more active investing strategies—primarily wholesaling and rehabbing—as a way to build up a base of capital to reinvest in the growth of my business.

One thing to add, make sure when you are looking at your cash flow you set aside some for reserves for the inevitable capital improvements that will be required.