I've done drastic increases before where I purchased a 6plex where the tenants were paying 700 opposed to 1550 being market rent what I did was i gave everyone a letter saying their rent would increase to 1,100 for 6 months and they would be month to month so they would be free to move at any point  because at the end of the letter i put that after the 6 months their rent would be 1,300 for a 1 year lease after that and all 6 tenants stayed. 2 years later everyone is near market and only one moved. 

Feel free to reach out anytime with any questions .

If don't do a 1031 exchange and decide to pay capital gains, I would have about $450k free of taxes (this accounts depreciation and other costs).

A really cool report by Apartment List showed VB has one of the fastest growing rent changes in the country at 3.9%. 

Best of luck, and feel free to reach out if I can help!

So $30k plus any state income taxes leaves you with $150k+ after paying off mortgage.You can certainly do a 1031 tax free in to a new rental.

No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE.

Then, I'd offer some free insights or advice tailored to their situation.

However I prefer it to just be me as this is currently my goal of becoming financially free through real estate and not his at this time.

With a 30 year mortgage, you can still treat it like a 15 year mortgage with double payments, lump sums, etc. you also have the flexibility of a lower monthly payment, so cash flow would be better and would free up more capital to invest elsewhere.