@Jared Irby - the first answer coming from my own backyard!  

This is my first post.

Renewing and raising rents up to market rate in the area.

Im trying to decide if flipping a home or buying a rental property is the best option for my first investment.

As soon as all of my ducks are in a row, I am going for 50 doors in my first year. 

.- lower turnover- easier on the units when they do move- quiet and less disturbance than traditional, younger- for fixed income, consider partnering with the local housing authority for SEct 8 vouchers, then raise rents accordingly - guaranteed money & the Sr. only pays a portion (if they qualify)Traditional renters- Higher turnover- Higher turn costs- More volatile - higher bad debt- More drug related activities- Adding in children that are hard on units- Higher eviction rates and legal costsConsider all angles before making a decision with the changes. 

We are officially under contract for our first property - a SFH in what I would gets is a B-C type of neighborhood.

1) Significant Rate Decrease2) Minimal Rate Decrease3) Keep Rates Steady

Yes, we have been doing lease/purchase and lease-options deals for over two decades.The rent+own strategy is particularly relevant when prospective buyers are having a hard time qualifying for a mortgage, either because mortgage rates are high or because prices are rising.Kinda sounds like both are happening right now, doesn't it? 

It shares very useful insights on how to purchase your first multifamily deal.