Within a year my wife and I acquired four multi-families properties with a total of 20 units, and eventually another building to rent out (currently a bait and tackle shop) as well as an Ice House.

Look at current rent prices, costs, and the cap rate to see if it's a good deal.

My property (currently I am  residing here in WI but also want to rent) is being possibly rezoned from residential to Commercial/Mixed Use and I just discovered this information.

You can also consider a DSCR loan up to the current value of 70% if the property is vacant.

The current mortgage is still in my Grandmothers name and payments are up to date.

Consequences to the investor, guest, and me (the current Host)? 

Would you be willing to share your current contract with me as well? 

Market rate right now is minimum 300 dollars above what I am charging for the unit but my tenants are good and I don’t feel right springing such an increase on them. 1500 per month is what I would have to pay for a 2 bed 1 bath apartment around here and my unit currently is 3 bed 2 bath. 

I only own one rental unit (this one) and don't accept people who have been evicted, but I would not accept someone in a current eviction proceeding either.

I stayed in my last apartment for 8 years before moving to the current apartment, and had zero issues with that landlord.