I need to find out what a fair rate for the property should be, so I'm tempted to call in a broker, but I don't want to pay a commission for what might be a very easy deal.I figured I'm not the first guy in this situation, so I thought I would post the question here and see how others have approached this situation.Of course, if the tenant chooses not to renew, then I have a whole new set of questions: should I sell this property and try to roll over into a new 1031 exchange - or should I keep this property and try to fill it with a new tenant?

The covert lot I ran in Raleigh (up to 22 spaces, but we were never close to full) for our members as a 'revenue enhancer' was unattended, automated, easy to manage (handled a few calls a semester), and not a burden.

Since they sold something there they have a decent idea on price, neighborhood, how easy/hard it was to sell etc. 

@Janett McWilliams, I can say as a general rule that you will have better terms and more money to be accessed if you individually refi each property individually unless you have > 10 properties, usually >20. 

Easy money.

It's not hard to find a good multifamily investment property with an 8% cap rate that's very easy to lease out.  

I have run into several companies that only want to deal with A and B units because they are "easy" to fill.

I have a duplex that I have owned for 22 years, I lived in there in the 90's I know it well, it is an easy place to manage but I have to sell it (my son is off to college next year).

Yes, just make sure prior to close on the property you speak with them and see what their rules/policies are on the matter and be prepared when that time comes for the property.

And the seller would have to report any capital gain on their taxes for that year But since he has renovated the place from top to bottom he would fall into the "significant renovation" rule and if a traditional buyer bought the house for 200,000 then the buyer would also have to pay 30,000 in HST?