OfflineMy first deal may be a 112 unit apartment complex.
Is that good or not? 
Anyway I am told it is a 'section 42' property.
Does anyone have any experience with these?
I will be wholesaling it to another investor.
I am also told the investor can apply for a tax credit for the repairs.
Thanks.
Lauri
__________________
" The only difference between me and successful people is they started before me."
by Shane
Thats the basis for the success of any deal
now that I have more info are not so good.
At asking price we are talking 2.84%cap rate. I also know that the seller will not go low enough for a good cap rate. In fact this property was just re listed for half a million MORE than the price at which it did not sell.
huh?
Oh well, when it's in foreclosure we'll get it then.
I was more concerned with the section 42 thing. Is it difficult to comply? Is there a way out? Any info would be great, probably for future reference.
Lauri
" The only difference between me and successful people is they started before me."
by Shane