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.

The exterior isn't in too bad shape, and the interior is going to take alot of weekends and sore muscles.

I have spoken to 2 other landlords; they both told me that when they started they had negative cash flow and raised the rents over time until they flowed.