Quadraplex South Lake Tahoe investment

[Kimberly B Bell]

We're looking at quadraplexs. The tenants are long term but at rents 30% below market. The property manager is clear that we can't increase rents for 9 months and need to move forward at 10% per year. With 30% down, we would run slightly negative the first year. Then could get 4300$ increase for each year forward for the next 3-4 years.  Is this a reasonable investment? Also, the quadraplexes take 6-12 months or longer to sell here.