I feel that I have to start raising the rent at some point or else I'd be way below market and as @Patrick M. puts it, doing lot more charity work.

The first is that he smokes cigarettes and pot (not legal here) in his apartment for which we have had complaints about (as the smell travels) from both the apartment above him and from the renter of the commercial space below him.

I’m trying to determine the best course of action to take for buying a residential property in Florida with my current situation (information below).

They’re below market on their rents ($32.50 for a 5x10 - should be between $35 and $40) and $45 for a 10x10 which should be between $50 and $55. 22 of 24 units are full, so I doubt anyone would move even with a $10/month increase.Owner and I negotiated two years ago and was left off at a $55,000 purchase price, $15,000 down, 6.5% interest, and a balloon payment in 8 years.

My day is usually structured like listed below. 1. wake up look at emails 2. do stuff on social media 3. service leads/cleints I have now 4. lead generate which I don't know how to efficiently do so I just end up watching training videos.5. repeat steps.Now I have no issues with getting my hands dirty.

They agreeing to findings.2. complete repairs found by inspection and deduct from deposit3. clean carpet if they don't provide a receipt from a local, professional cleaner which is the condition they received it in. deduct from deposit if they didn't.4. if a pet was allowed, they must turn in a receipt showing it was treated for fleas. if If they dont it comes out of the deposit. if any damage from pet they're given an estimate of repair and sign an agreement that they will pay any excess not covered by deposit.5. touch up painting as needed, filters changed, fire alarm batteries updated.6. get keys from tenant and change locks. old locks go into inventory to be used in other properties.7. return their deposit with a letter documenting what expenses were paid out of it and a notice that they are welcome to return if they were a good tenant. they can use the statement for their future landlord as well. if they were not a good tenant, they go on a do not rent list for future reference with a copy of mive.iut inspection signed by them indicating damages and/or non-compliance behavior.

I've just seen a multi-family rental opportunity with a daycare on the ground floor below the regular rental units.

Sometimes there are areas that may be low income but doesn't have high crime.

I've c/p'd the gist of the numbers below: Property Specific Inputs Offer Price $ 90,000.00 After Repair Value $ 90,000.00 Rehab/Repair Costs $ 5,000.00 Annual Tax $ 2,315.00 Monthly Insurance $ 100.00  Cash Needed Acquisition Costs $ 26,720.00   Holding Costs $ 692.74   Refinance Costs $ -   Total Cash Needed $ 27,412.74           Rental Income Gross Rental Income 1.94% $ 1,750.00 Operating Cost Assumptions Vacancy Rate 8.0% $ 140.00 Maintenance 9.0% $ 157.50 Capital Expenditures 9.0% $ 157.50 Property Management 10.0% $ 175.00 Total 36.0% $ 630.00 Owner Paid Utilities Electric/Gas ($/month) 8.6% $ 150.00 Water/Sewer ($/month) 11.4% $ 200.00 Trash ($/month) 0.0% $ - Total 20.0% $ 350.00         Cash Flow Calculations   PITI $ 692.74   NOI $ 770.00   Monthly Cash Flow $ 77.26 Net Cash for Deal $ (27,412.74)   Cash on Cash Return 3.38%

If all the usual factors are against me (high utility bills, bad interest rates, vacancy, etc) then I will make 2K…if the stars align than I might hit 12K in a year.In a completely fabricated example, the below screenshot indicates that I have a 33% chance of having a negative cashflow on an annual basis (small red text at the $0 mark).Models like these are pretty simple to construct.Simulation InstructionsTo get started:1.Install the excel add inI like ModelRisk, it is free but there is also @Risk by Palisade.