(high rise condo) The vent does not work and as a result humidity damaged the ceiling. 

Currently they need to be purchased with 100% cash, or, 50% down with high interest lending.  

They are two young professionals with money, they have extremely high demands, they "know already" because they talked to their "xyz professional buddies already." 

However; the costs are high to retain all the personnel needed, etc.

I know Philly at a very high level, but not the details to talk about neighborhoods.

If this Cap is allowed to expire, I would think that there will be a rush to take advantage of it.That should increase demand for higher priced Homes because the Standard Deduction gets reduced significantly AND you can go way above the Standard Deduction by Itemizing the SALT Deductions.If your comps are Single Family Homes and/or small Multi-Family that can convert to an Owner Occupied (think BRRRR here), it is well should rise in value as the Federal Tax deduction lowers the monthly payments for every homeowner with a large Mortgage that also pays State and Local Taxes. too funny I had not thought of the Salt deductions in years and today it popped into my mind then you post this.. very true for high priced markets this will be a huge bene

I thought about buying it Subto, but she bought in 2022 at the height of the real estate market so the monthly payment is too high for this areas rental market.

We have agreed on a buyout price of $100K (initial investment) but he also wants me to pay all closing costs which was quoted $22K - That seems really high so seeing if this is accurate?

When you start leveraging 90%+ especially with today's higher rates and the high cost of multifamily's compared to their rents, the numbers turn upside down real quick.

I highly recommend you join up!