Sometimes tenants are willing to negotiate if they understand your reasoning.If you decide to go ahead with the increase, give the tenant written notice within the required time frame, usually 30-60 days.

Successful 4 year rental with annual rent increases and a great asset that both appreciated and depreciated at the same time.

It is an 1800 sf double wide in the same county.

In fact, every property I buy in the Midwest has a rent to price ratio of 1% or better and cash flows day 1, assuming a 20% down payment.

Hopefully with the same lender. 

There was a lot of information I didn't mention in this post since each company and individual can operate differently so if there was something I failed to mention, please feel free to leave a comment).The terms Hard Money Lender and Private Money Lender can be confusing because people sometimes use them to mean the same thing.

@Sonal Chopra what a great question, thank you for asking this to this community.Long-term goal would be the same goal my wife and I have today; Build, passive on going revenue streams that exceed our current and future expenses with the ultimate goal of giving away 80% of what we make to charities and causes we want to support.

My buyers have said the same thing about places, and what it has come down to is price.

I think presto patch is exactly the same stuff as fix-it-all. 

That will get you an additional 45 days (a lifetime in a transitional market in an election year) to identify that elusive replacement property.