Has rent control worked anywhere on the planet or fails every time in the short & long-term.Why not have price control on college tuition, food, interest rates, new vehicle prices and energy ?

Tenant laws are super strict here and there are some cities that have rent control. 

They complain of feeling like a number, lack of transparency, poor quality control, and more.Find a mid sized local company. 

RENT CONTROL - Every area of the country with rent control has problems with affordable housing for a variety of reasons. 

Thank you, These fees arent out of the ordinary for what I typically see in my market - do keep in mind that the $2k in fees are outside of the realtors control and are charged by your closing company, she is likely estimating these amounts with what they typically see in the area.

You have to worry about the HOA board controlling this timeline as well.I am not trying to scare you into selling by the way.

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

While a business owner's job is primarily to focus on revenue, you also have to make a basic effort to control expenses and keep things from eating up 1,2,3,4% or more of gross income.

Has anyone indicated that the 2 existing units are rent controlled?  

You can't always get someone out immediately to fix things-you need to call right away (as soon as they open), but the rest is often out of your control and waiting 1-2 days for a non-essential appliance isn't the end of the world.