Raise the amount you charge for rent by some amount, say $20 a month, and tell them if they get the rent in on time, you will give them back $20 at the middle of the month.

Born and raised (and currently residing in)...Regards,Scott Miller

Unless the rents are under market, raising the rents WILL result in more vacancies.

My expenses will not magically increase by nearly $2,500 a year just because I raise the rents $400 or more a month.

We needed to raise the concrete floor in some areas.

I make a small amount at the moment with steady large raises for the next 5 years with this job.

I was aware of the heating issue, and my idea was to raise the rent slightly to cover the cost.

If you raised rent 20%, I think you'd be hovering over the $50/unit-month mark.Basing this on:NOI: $525/monthMortgage payment: $350/monthMargin: $175/month or $44/unit-monthIf I were looking for my first deal and I came across this deal, I would probably take it.

Occasionally my lower case "t" stops working so I have to type all caps even when I don't mean to raise my voice.

Master the art of raising rents (in non-rent control areas) and deliberately causing a mass exodus of the riff-raff.Learn to love and be able to solve other peoples problems...would be my tip for success.