@Rob1235 wrote:
but does FMV have a a range...
Yes, FMV has a range. FMV for an existing tenant that is known to be a 'good' renter (such as your son) can be somewhat lower than FMV to an unknown stranger.
If the amount of rent gives you a positive cash flow, then in my opinion FMV is even more flexible.
You also said that "FMV has increase from $1760 to $2400 per month, in less than a year". Again, in my opinion, that gives FMV more flexibility and can reasonably be closer to the previous year's FMV.
