I hope to see more landlords in Allentown posting renovated rental adds and less more of the same low end properties that attract bad tenants continuing the local opinion that Allentown is dangerous. 

Account ClosedNice to see you participating in the forums ... and the small step forward of dropping one of your frequent {stuffed} keywords from your post.The handling of a squatter vs a tenant will undoubtedly differ with jurisdictions, so the ultimate advice is to consult your legal counsel on the matter.The crucial distinction - at least here - that that a squatter had no legal right to be at the premises and is essentially in trespass / illegal possession of the property.  

I would talk to the city and see what they can do, they may repossess the property as it is a danger to surrounding buildings and the public, they may even sell it for cheap to an investor, because if it is abandoned chances are that nobody is paying the property taxes either.

Just like the city, there are pockets of nice areas where people take very good care of their properties and areas that are dangerous and not worth investing in. 

If these were two distinct projects, then you can start depreciating the first one in 2017.

The real danger fOr these REITs is the refinance risk.

However I don't think it's necessarily investing in the Warren Buffett sense of the word.I'm interested in if everyone thinks this is a distinction worth  making?

All that being said, I think it's dangerous to assume nothing will happen - better to get involved in opposing this idea than to be surprised that it passed.

@Thomas HammondThis is a very sticky and dangerous situation. 

Well, let me tell you that's a dangerous attitude for those of you that haven't gone there yet.