Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

Here are the details:A friend wants to sell us their house that currently has a VA loan mortgage.

But these two live and work it and dont sell e ducation.

We'll sell the properties if we can't find a PM company that works. 

So your capital gain when you sell this property will be calculate against your tax basis and not against your mortgage as many investors expect.

Listings are selling for roughly 92% of their list price on average.

On the bright side I think many of the scammers that sell you on owning 1000 units are being wiped away and maybe that kind of an opportunity will come back. 

It is a tough market but the money is insane so people just open business and run until they get caught and sell and open again. 

I have seen the post which in the day I think we would have called them blog posts and basically marketing whatever they are doing or selling..