Here some interesting info and numbers about the project.Acquired: Feb 2018Rehab - 2 - 3 months.Listed - May 2018Sold - Sep 2018Purchased - $115,000Financed - $110kRehab - $63k (investor contributoin.Sale Price: $224,900 with seller contribution $6kAfter all expenses Final Profit - $21k  - 33% Highlights - Removed big pool and created big back yard, did major foundation repair to get to tolerance level, removed walls to make the kitchen open, all new flooring, new roof, new appliances and whole shebang. 

I’ve had to evict people and that made me a little less tolerant of people’s BS.

Your risk tolerance must be through the roof.

@Duane Whittaker Highlighting  several good points here, leveraging is your key to get the ball rolling faster, although it does increase risk, so the risk tolerance. 

Knowing nothing about your market, if you have done a good job screening and lacing your new tenants, the market clearly supports rents at the $700 price level - now it's time to get a plan in place to get the rest of the occupants up to this level.Consider making a plan for getting the rents to market level over the course of six months or a year - whatever time period best suits your risk tolerance and go for it.  

Knowing your state's l/t laws, and knowing what exactly is in your lease will go a long way for you to take more direct action.We have a "zero tolerance" clause in our leases regarding both domestic violence and illegal drugs (or legal drugs used illegally).  

This has nothing to do with risk tolerance, time involved, etc.

HI @Elle Nicole Grunenwald  - What you do depends on your goals  and your tolerance to risk.  

@Samuel Brand  This is strictly a personal / risk-tolerance decision on my part, but I would not own a rental in Mass. 

@Christian Szadyr a lot of this depends on the tolerance your family has to house hacking.