Analyzing a potential opportunity [Newbie]

[Michael Nardella]

I am the first tenant in an apartment that had formally been lived in by the landlord for over 45 years. 

It is located in a nice area of downtown Boston where prices don't tend to fluctuate. My lease has expired, but the owner and his manager (former wife I believe) are now renting it to me month to month. Once I leave they are going to put the apartment on the market.

I could see myself living here if I were to purchase the apartment (or rent it out). As the first offer I believe I may be able to acquire the apartment at a discount to market. When I rented I was able to negotiate a significantly lower rent as the owner and manger did not know how to list the apartment online. I also feel as if there will be a sense of urgency to sell it once I give my 30 day move-out notice.