Instead of causing possible grief, provide 45-60 day notice to your tenant that:*unfortunately, due to rising cost, your new monthly rent starting in January will be +$150 a month.* ......say your sorry but that is the new rate. 

;)https://homes.yahoo.com/news/experts-rent-control-causes-more-problems-solves-181219436.htmlRising rents nationwide are causing rent control to gain traction — but not among economists, real estate analysts and other housing experts.A whopping 63 percent of experts surveyed for the Zillow Home Price Expectations Survey (ZHPE) said rent control ordinances are “government intrusions into the marketplace that, however well-intentioned, always create more problems than they solve.”It’s unusual for such a large group to agree on a single answer, according to Terry Loebs, founder of Pulsenomics LLC, which developed the Zillow-sponsored survey.

I have a condo unit that had water damage to the ceiling of the master bedroom.

Depending on your personality, that may cause some stress.I would also point out that you have 2 huge advantages in the flipping game: access to cheap money (your own) and reduced realtor fees (as your own realtor).

Ask FNMA for a reduction in price do to the damage.

They haven't paid this month's rent yet...HOWEVER< they filed a complaint with the city inspector for a different reason...so i am worried about retaliation..YET< they are late on rent and they caused damage to the kitchen.  

My sewer guy (and he deals with bleach water all the time, of course) said not to exceed more than 1:3 bleach to water so the fumes don't damage your lungs.   

Everyone is telling me it means tear down but my own research shows it's a warning of structural damage etc for first responders in case of an emergency.

It may help your cause if you have an idea of what they might want, like;2 years of tax formsDefinitely, personal balance sheet, or called an individual financial statement, where you fill out what your assets and debts are, loan balances on properties, market value of properties, car loans or free & clear, bank balances, life insurance, etcProfit & loss statements, perhaps a portfolio of your properties (before/after)Last 2 pay stubs, if you have a jobJust a conversation about what you've done, what you want to do, etc.  

it doesn't change my thoughts, jeremiah. raising the intrest rate isn't a big deal unless it is a huge amount. selling the property may seem a viable option, sure, but in refinancing, you basically are selling it, to yourself. the tenant is paying the payment for you so there is no out of pocket cost to you, plus i am sure you can do much more with the additional money to offset anything that raising the rate will cause. use the house as a " money house", if for nothing else