12 unit building

[Stephen Leblanc]

I was asked recently if I would be interested in purchasing a 12 apt building. I guy a work with said one of his clients may be looking to sell his building because he could not access the equity in it, and at the moment, he needed it. I have no idea of what the individual wants for the building, but I was wondering if the same rules apply when looking at a 1-4 unit building as compared to a 12 unit apt building.ie 50% and 2% rules. Is there anything else I should be aware of. Im just trying to find out what price the property would be profitable for me. His price may be well above that, but there isn't anything I can do about that.

steve