Rent Controlled Building
If anyone has any experience with rent controlled buildings, what are the advantages and disadvantages of owning? I am asking because there is a five family rent controlled building that has been on the market for about seven months and no one seems to want to touch it. I am trying to figure if it is worth pursuing. They have dropped the price by $60K and it is now about the same price of the two family houses in the same area.
Thank you. :-?
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