We (my wife & I) currently own outright one home which we are renting out.

The property is currently being rented out for 3,500 a month. 

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

@Pamela Holmes I recommend  @Mark Byers at Signal Rents.

Increasing the rent that much will trigger vacancies. 

Hi @Jonathan Rivera I will let you know my wife and I have collected every payment of rent on our rental properties for over a decade now in NJ. 

Still deciding if I will rent to own or sell to an investor.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

My plan is to occupy the  property for a year (to utilize FHA), then rent it out and look for a new property. 

The rent is set at $2200 per month.