I have started to make offers on some deals in Columbus, hopefully should be able to close on one within the next 2-3 months if not sooner.

I have locked up one deal off the application and have offered in person on 2-3 other deals.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

My advice is if you chose to increase,  explain to the tenants it's because of increased taxes/insurance/improvements, and make it standard-- if it's always at lease renewal, they'll expect it and there won't be any agitation.  

You need to think about what your plan is for health insurance because a bad turn can wreck you financially.

I am targeting homeowners with dilapidated homes that need repair and offering to pay for the rehab and split the profits with them at the end of the project after the sale of the home. 

Like I'm calculating to spend $1500 month between mortgage insurances and HOA but think if I rent it I'll probably only be making $1250 a month.

Most of them have offers and are under contract.

Any thoughts on writing an LOI, or would you suggest an offer?  

I think trying to get her out (may have to offer incentive) is the number 1 goal, then move forward from their if that is not a possibility.