I also ran it by one of my real estate advisers and he reviewed the pro-forma's and said that everything meets their criteria, which gives me additional confidence.

Are there any laws there on how much of an increase you can make in rent for the next lease period?  

If a tenant wants to rent month-to-month, allow it at an increased rate.

The older homes in my neighborhood pay over 2K, while mine is under $500 because of the increased elevation. 

A large dilemma for my client was should I put 20% down and erase PMI/increase cashflow or put 5% down and do a little bit of value add.

The other quote i have for 18 seer system is 21k, cant understand what increases the cost by 10k from a single stage 14 seer system.

And I have to assume rental rates for other unit will appreciate higher than inflation, plus my Dad's slight increase in his rent to me 'maybe'...I see this as a net gain for me as even taking a ~$3k loss (yes this doesn't include over costs associated with managing a rental) each year for say 10 years, I save $60k of an original downpayment and can push it all into as tax advantaged vanguard fund gaining hopefully more than my loss on a year over year basis.

I'm excited to surround myself with like-minded investors in the area who are also working to pursue financial freedom/ increase income via investing in assets. 

I'm starting to hear - see little bumps in the market with first time buyers pulling back/ new starts slowing down just a tad nothing serious / rate increases.

We increased the rent from 275$ to 500$ for the upper tenant which he agreed to.