By doing this you are increasing your risk.

The purpose would be to rent it out through a property manager just like a regular single family home.

Made a good sum from the sale.In hindsight, I wish we had instead rented it out. 

Why, is because our expenses are constantly increasing.  

The property is rented by DCFS ( department of child and family services) a government tenant and are occupying the building for last 30 years and have no plans of relocating.

When we had more properties we would increase it, but it was not linear, but for me comfortable would be $20k for the first property and $5k increase for each additional door on top of that. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The question is, how do I go about asking for the lost rent?

I've talked to a few agents in Memphis, and the impression is that vacancies are up, rents are down, but prices ARE NOT trending down? 

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.