Let your tenants know that rents in the area for similar properties are higher than what you are charging, and based on the expenses you incur to keep the property in great shape, you need to increase the rent to market levels.Of course, also throw in how great they are as tenants, how much you appreciate them, and any concessions you're willing to make in order to retain them (for example, if they've been there for a year, offer to paint a room for them or put a nice fan in the master bedroom; if they've been there for several years, perhaps offer to replace the carpeting in a couple rooms; etc).Remember, it's MUCH cheaper to keep existing tenants -- even if you're getting a bit below market rents or have to provide incentives -- than it is to replace tenants.

At the beginning of a project, my project manager shoots me an email with all the finishing materials; it might look like this:- 1 Exterior Door (36" RH)- 5 Interior Doors (32" LH)- 2 Flush Mount Fan/Lights- 1 Large Fan/Light w/Downrod- 2 Basic Fan/Lights- 8 Privacy Locks, 7 Passage Locks- 4 Bathroom Sinks (19"), 1 Kitchen Sink- 4 Bath Faucets, 1 Kitchen Faucet- Set of Appliances (w/Gas Range)- Etc...I'll bring up my spreadsheet, put a quantity next to each item, fax it to my guy at HD straight from my computer, and he'll generally call me the next day with a bid price generally about 14-16% off retail).

I'm a big fan of the 30 year, kike many posters state you could always pay down later.

I'm not a fan of long distance ownership as I want to be able to manage my own properties.

The PM works for the owner as does the GC, however, do you want to place the responsibility of color choices, which plumbing fixture to buy, which model ceiling fan to purchase, etc on the GC?

hits the fan.

i'm actually a fan of leverage...if you can lock in long term fixed debt right now, i don't understand paying cash from an investment perspective--put emotions and ideas of your comfort zone away and just look at the math...by paying off a mortgage early, you're effectively earning the interest rate of that mortgage on your cash...so around 6%...if you're a half decent investor, you should be able to better than that, and stay leveraged.....and btw, that was a terrible post...your profile says you're a student..maybe it's bc i don't trust a lot of people, but what's your angle??

i don't add ceiling fans, dishwashers, disposals, etc.

I'm a big fan of dogs, although my main reason is for companionship... security is the perk.

Exterior Doors, Sliding Glass Door)23.Remove Satellite DishINTERIOR:1.Lower level Bathroom – Demolish/gut whole bathroom; Install new Drywall & Plywood; New Shower Surround/Tile; New Tile on floor; New trim/molding and new door; Remove/install toilet, vanity, mirror, light fixture, closet (if needed), and accessories (towel hangers, etc)2.Top level Bathroom – Demolish/gut whole bathroom; Install new tile on walls; Install new tile on floor; Install new window; Install vanity, toilet, mirror, light fixture and accessories (i.e. towel hangers, etc.)3.Repair holes throughout holes in drywall throughout whole house4.Remove/Install new doors and closet doors throughout whole house5.Install new exterior door and window in the Kitchen6.Remove and install new ceiling fans and light fixtures throughout whole house7.Repair/Install new vinyl or linoleum flooring in laundry/furnace room8.Replace/Repair ceiling in furnace room9.Remove/Install new trim throughout whole house10.Paint the whole interior of the house including: trim, doors, ceiling11.Install carpet in the living room, lower level bedroom, hallways, basement; including the top of the half walls12.Level kitchen floors; gut floors and add new plywood13.Install tile on kitchen floor14.Remove/Install kitchen cabinets15.Remove/Install new appliances (i.e. refrigerator, stove, microwave, dishwasher)16.Install faucets throughout house17.Patch ceilings where needed including basement, laundry room18.Remove/Install new door going to the deck19.Remove/Install new wood railings on upper and lower level stairways20.Remove door going out of the kitchen21.Install new shelving throughout closets22.Install new sliding glass door23.Repair siding/paint/trim around opening of sliding glass door 24.Install new drywall and patch drywall in basement as needed25.Install new recessed lighting in basement depending on current placement of electrical receptacles26.Remove/Install new electrical sockets and face plates27.Install tile apron around front door in living room28.Sand and refinish/stain two bedrooms with polyurethaneThank you again, appreciate it.