How much profit does Mike estimate he has missed out on by not raising rents over the last two years?

To determine the missed profit from not raising rents over the past two years, one must analyze how increased rental rates contribute to overall income. In most real estate practices, landlords are encouraged to regularly assess market rental rates to ensure they are competitive.

In this scenario, if Mike estimates that he has missed out on $540 by not raising rents, this figure suggests a careful calculation of the potential revenue lost per unit or property. This figure may reflect a specific raise that could have been applied yearly, taking into account occupancy rates, local market trends, and historical rental data.

The other figures presented, such as $9,000, $1,800, and $5,400, likely represent miscalculations of either potential annual increases or total missed rents based on incorrect assumptions about how much rent could have reasonably increased in line with market conditions. The choice of $540 aligns with a realistic perspective on modest rent increases, perhaps reflecting a calculated assessment of market conditions over the two-year period.