I frequently found myself in friendly competition with other builders in the neighborhood by building in expensive custom components.  

I don't like most of Fort Myers, North Fort Myers, or sections of Port Charlotte, but those are the most inexpensive areas.

If you want something inexpensive then I recommend Podio.

This maybe the statement you can use to raise the rent slightly and explain to them that it is just to cover the increase in expenses and that you are not making any more profit. 

Good morning! Where do you all get your bandit signs from?

Any recommendations on inexpensive insurance companies for this situation?

Memphis is a very good area to purchase a multi-family or SFR for an inexpensive price.

For a "property centric" cap rate, American Homes for Rent (NYSE: AMH) has (rough numbers, annualized) $3.5B inproperty, roughly $200M in annualized rent, $115M in expenses (see note below) for a $85M "return." $85M/$3.5B is about 2.4%.

I agree, thank you @Bill Gulley and @Dion DePaoli for all your input on this issue.I'd then suggest you get with a banking/finance attorney, sounds like you're speaking to a very fine RE attorney as the finance types can give that answer in depth.Now, here's a real inexpensive way to get advice from the horse's mouth.

Peter, Renters Insurance is a very inexpensive insurance product for your tenant to have.