Now we stick to multi-family because of the economies of scale and ability to force appreciation through value adds and rent increases. 

Property taxes are public record, so you can use previous years paid and estimate a slight increase.

The reason for me is that I can increase cap rate by not paying HOA fee every month(7 units x 200)..Any pros and cons?

If I were to outsource to a company like Click2Mail, the cost would increase because I would be paying for them to assemble and handle the letters.

One looses $458 per month, which might go down to $383 per month if rent can increase to what property manager says is possible now.

I guess my thinking is:Previous Job = Immediate Pay Increase = Quicker acquisation of a House Hack Property = Closer to my RE and personal goals.Once I were to acquire the house then I will pursue PM as a career no doubt about it. 

$71,000 in improvements for a $400 rent increase doesn't sound like a good deal to me.

In my opinion, it is definitely worth it to hustle as much as possible to increase that cash flow. 

I would be able to manage this increase but I would not be saving/investing as much money as previously.

What would be your advice on increasing the rents (5yr+ tenants and very under market)?