My wife and I have thought about it for years, but my income currently supports the entire household.

As it relates to management, just remember that your ability to move the needle will be directly related to the quality of the onsite manager, and YOUR ability to provide the proper leadership, goals for the park, and resources/support to help your onsite staff achieve them.All the best, Jack

This technique is generally applied in a market that lacks enough comparable sales with financial data in order to extract a cap rate from or just to support the market extracted cap rates.

Thank you to everyone that has been supportive; basically the entire BP community.

I also tried contact support to see if I need to upgrade membership to have more access to people but haven’t received a response.

BiggerPockets forums have numerous other tactics you can take to increase rent if you really want to raise rents.

They have them in this site and you can find just about everything you need.Also... you get to support the site that hasSo much useful information for all of us.

Talk to whoever owns the other 5 about the problem and have them support you in solving the tax problem. 

You may wish to confirm that the new 401k provider will handle the ongoing compliance support such as any required 5500 filing (e.g. 5500-ez for a one-participant plan with assets in excess of $250,000), any required tax reporting (e.g. 1099-r in the event of a distribution or in-plan Roth conversion), mandatory plan updates and amendments, etc.4.

We are using the income from the rental to support our living expenses but some months we still need to put some expenses on credit cards which stresses me out.