She's always been on a month to month lease so we kept that the same, but I only agreed to that once we the rent was raised. she was paying 900 and I rose it to 1200.

For a 2 flat I'd ballpark at least $215/mo unmeteredYou also mentioned doing some TLC to raise rents. 

Hi @John Smith, in answer to your question, "Yes", there is a regulation dictating when you can raise funds from non-accredited investors. 

I've found Reg D corporate formation more expensive to raise and like how the 2012 Jobs act has updated Crowdfunding under new SEC rules to unaccredited investments under a corporate reg CF+ filing new entities can raise up to $5 million per year and under A+ that requires more extensive reporting the new limits are $75 million per year.

Im trying to purchase my first SFR rental in OKC. 20% down, <$135k, C Neighborhood, 3bed, Near Turnkey.Inventory is awful, as to be expected.Interest rates are slowly inching up with the Fed expected to raise rates in a few weeks timeMeanwhile inflation has been CHEWING away at my cash for half a year and continues to accelerate. 

Purchase price is $283K, I do believe I can raise rents a few hundred dollars if updating is done.

Option 1 raise the rent 3-5%.

Alternatively you could just take the drywall you test fit, throw a little construction adhesive on the back, slide it in behind the trim, and use some "mud framing" to reform the corners, give it a quick sand, paint, and caulk.

They will "take deposit" for rent and leave the tenant with a $0 deposit balance or they raise/lower rent without using paperwork. 

I am actually in the process of a cash out refi right now with the second one, but with the money I am getting back (about 30k) I will be paying all my investors and then there is not much left for me to re invest unless i got back to raising money.Thanks for the help though, I hope you can buy your first property soon!