The property is a 6-unit building in Los Angeles.Given the significant difference in current rents vs. market rates, I'm looking for advice on how to legally and ethically approach raising the rents to reflect market value, should I decide to move forward with the purchase.Some additional context: even if I were to negotiate a better (reasonable) price and were to successfully evict a tenant who is 5 months behind on their rent and charge the market rent for that unit I'd still be -$600/month. 

I read in the biggerpockets book to include property management in the event that I move out, I will add water and garbage as well

I believe that the easiest way to move forward is to buy a SFH and get a roommate or 2.

It’s a tough calculation with several moving parts.

We would need to learn all things creative, starting with how to pull numbers on a subject, is this a good deal, how would  move this deal to an investor, ect.We have looked into Pace Morbys course however, we are a brand new business and we are not in the place to drop $12k on a course.

If you are gutting the bathroom, moving things, complete replacements will drive the cost. 

If they move out during the lease period you get to keep the deposit apply it towards the next two months rent (the legal limit).

I am a Montana native that recently moved back to Missoula after a long stint in Colorado and am looking to meet like minded investors.

We will be moving to Texas in a year or so and I’m planning on getting my RE license AND taking courses for Transaction Coordinator.

You need the units vacant before moving in.