The acquisition unfolded seamlessly, creating a synergistic partnership that leveraged the collective knowledge and passion of the existing team.

I recommend you create a spreadsheet with the current cost of replacement, expected lifetime (use middle of the expected range), and then calculate the monthly charge.  

A few years ago when money was tight some housing authorities simply announced they were reducing the monthly rent payments and landlords had no choice but to accept this. 

Thank you for the information any further assistance would be appreciated! 

A $200 increase on a $600 rent will surely create vacancies, while a $200 increase on a $1800 may or may not. 

This was my choice for several reasons:1) Making a mistake hurt, but it is twice as bad when it hurt someone else too.2) I did not want an audience (critical partners) as I was finding my own footing.3) I went into RE to be my own boss, so having a partner felt burdensome - not freeing.4) In the past, I always took care of partners before me, if there was an issue.

Tell us more about you so we can offer ideas/assistance.

You will probably learn so much more and at the end you'll still have a property....people are scared to do this, but you can find some FREE assistance along the way from a great realtor/investor, a great loan officer, and others along the way.   

Does anyone know if I can create a clause in my nonstandard rental provision to assign responsibility of changing the batteries in the smoke detector to the tenant? 

Higher turnover rates and bad choices of SO ending up in your place.