Mine are by the Smoky Mountain National Park in Tennessee (Pigeon Forge/Gatlinburg/Sevierville) - hugely popular tourist destination that's been a mecca for vacation rentals for decades.  

You will get multiple opinions....no right or wrong way as long as you follow the state laws on how much you can increase it and when....Different "camps"- Leave it at current rent for 6 months or so get a feel for the unit and tenants- don't rock the boat on day 1- Slow increase over 6-12 months- rapid changes results in turnover and that kills profit- Jump right to market rent.... if they move then fine....fix it up, get market and YOUR tenant choiceYour choice......Biggest factor to consider.... the rent may be low but fit the unit...... ie. lots of deferred maintenance, old style/design, Capex coming up etc etc..... so to get market rate on the open market, you may need to sink decent $$ to get it fixed up to compare to the other units on the open market right now at that rate....

Hi @Min Kwon - there are turnkey opportunities in your price range and within the closest suburbs - like Pflugerville, Round Rock, Georgetown, Kyle, and Buda.

In no particular order I have listed some of the most popular markets for out of state investors•Cleveland, Ohio•Dayton, Ohio•Toledo, Ohio•Youngstown, Ohio•Cincinnati, Ohio•Memphis, Tennessee•Birmingham, Alabama•Kansas City, Missouri•Saint Louis, Missouri•Indianapolis, Indiana•Detroit, Michigan•Erie, Pennsylvania•Louisville, Kentucky•Milwaukee, Wisconsin•Jackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

There’s Nothing New Under the Sun, @Benjamin Hurwitz.Shills and straw buyers were popular and quite common in the mid-2000’s to inflate the price of properties, when it was easy to obtain a mortgage and walk away with the large cash profit.

Hi everyone I'm just getting started and I was curious as to what is popular and what works here in the southwest Florida area.

Credit is Rock solid so not worried there. 

You should look at what’s popular and trending  in your market and go with that.

I could easily get more in rents, but they are long term and pay on time..why rock the boat?

This property just seemed to have a lot of upside, about 2000 sf, on 2.3 acres, next to a popular public golf course and on a well traveled st.