This is an emergency and should be explained to your tenant in that light.You have to learn to take control of the situation and know your rights as a Landlord.

Hi,  I'm wondering how to change tenants to bring rent to market price. it's impossible to increase the rent for current tenants since there is rent control in place, the increase cannot exceed 5% annually.

If you are relatively debt-free (minus a mortgage), if you plan large expenses several weeks or months ahead of time, and can control your business expenditures, you are much more likely to succeed.DON'T start wholesaling without regular full-time employment.DO start wholesaling if you have a back-up plan. 

Loss of oversight and control of the project is the nail in the coffin for first-time investors.

HOA would easily eat into your cash flow / profit, or sometimes you have no control what would happen in the decision making. 

Colorado- While rent control can apply in certain cities, there are places in CO that have very low vacancy rates- elevating the overall rent you might be able to collect (obviously in a % monthly rental yield ratio objective to purchase price). 

Good quick read on rent control plans for the Bay Area:http://www.sfchronicle.com/business/networth/artic...Cash flow isn't an easy find out here unless your buying at huge discounts and/or adding killer value through rehabs.

I think the safe T act is going to make a bad situation worse up there and I anticipate crime rates going up and eventually more people will leave the city. you may have a situation like New York in the 70s where crime got out of control and the market/city took a hit, prices came down and opened up opportunities for people in the 80s to invest and build the city back up after they finally realized something needed to be done. just my thoughts though. 

You are allowed to buy the tenant out either ‘cash 4 keys’ or pay them the city relocation fee which is pretty high and can be found here:  https://housing.lacity.org/wp-...Whatever you do, don’t irritate the tenant because under the LA rules, you still cannot evict a tenant for non-payment of rent.You don’t want a situation where a tenant decides they no longer want to pay rent.Unfortunately, LA is a different beast and rent control in this area follows different guidelines. 

First off, our team replied and engaged in your live chats and emails really fast during business hours and were working through the issues w/ you... but the one issue we had no control over was the Godaddy issue.