You can raise rents but there will be different lengths of time that you have to provide notice depending on how long the tenant has been living there.

This means more than just providing a clean space; it involves thoughtful touches like welcome baskets, local guides, and amenities that cater to your target audience (families, business travelers, etc.).

I have also worked with a lot of great property managers that charge reasonable rates and provide excellent service, and I would love to recommend them to you. 

Quick Update: I spoke with a property manager service company today and he was able to provide me more insight.

I imagine if I cut back a few hours at work I could easily qualify for real estate professional status. 

Condos downtown are affordable, but that adds HOA and taxes can easily hit 8k.I visited Farragut/Marryville TN. 

But you gotta be on the ground.Great on paper and some years you might get 15% returns and next year -15% returns.Plus, there is no true value in such areas as homes sell for $1,000 and others to unsuspecting out of state buyers for $60,000 where the provider makes a $20,000+ margin.Then it goes vacant, vandalized and back to a $1,000 houseLooks for areas with a more consistent sales value where homeowners also live and not just investor owned.B class in my eyes is:1) Close to infrastructure like schools, hospitals, shopping mall, larger employer, etc...2) Mix of homeowners and investor owned (leaning toward more homeowners).3) Well kept yards and no boarded up homes.

I will follow your suggestion to find an active local agent and see if he/her can provide 3 commercial developers. 

I really don't know what I'm doing either as an agent or an investor so any advice would be appreciated.I look forward to providing value back as I learn and am glad to be a part of this community!

This extension, if granted, provides a breather, extending the filing deadline to October 17.