Builders often have an escalation clause built in that says something to the effect of “if material costs increase more than 10% during the time of construction, builder can raise the price to cover the difference”. 

The investors plan is to either raise the rents to market rates ($1200 - $1300) or give the tenant notice to vacate.

Commercial is a heavy lift in the application stage but once the deal is underwritten, you're done, no last minute surprises because you bought a new living room set on a new credit card or made a college tuition payment :)  Also, terms can be negotiated and very favorable (extend the years or reduce the down payment for a slightly higher rate and if the numbers still work...hooray!).

He is coming in with the down payment but doesn't want his name on the loan so I am essentially raising the funds with the promise of the equity split when we do a cash out refi.

It was a pain and the house was raised afterwards.

Contact your local 4-H (county) or FFA (Highschool)and offer land/corral for kids in town to raise animals for the fair that don't have the facility in town. 

Hi All,I just purchased a 4plex in Jacksonville FL. and Im looking for a rent payment system that is good for a small amount of units that takes Credit Card.

Born and raised there for 24 years.

I would use $700 per unit as rent for your initial calculation - I'm assuming you aren't going in there on day 1 and raising all rents to $800? 

I'm sure the tenants are torn between paying more or moving out, but I have to raise rent to make the deal work.