Average hold period of an apartment building

[Nick M.]

Hi All,

I currently own a duplex and quad and am now actively looking to jump into purchasing a larger property in the NJ/PA area.  I have my eyes on a 23 unit in PA.

While I haven't seen it physically yet, the provided proforma looks good.  However what strikes me as odd is ownership has changed hands multiple times in a short span of time.  The history is below. Not listed below is the current owner who purchased the property for about $910,000 in 3/16 and after making improvements and raising rents is selling it for $1.280,000 (recent decrease from $1.33M)

Are multiple owners a sign of a dud?

Thanks!

Name	Date	Purchase Price
Owner B	4/20/2011	$1,050,000
Owner C	11/13/2006	$615,740
Owner D	5/23/2006	$978,500
Owner E	1/9/2001	$529,340
Owner F	9/13/1994	$619,420