There are many markets where the wait list is in years for low income housing availability.Rents have dramatically outpaced wagesBaby boomers are living longerCorporate income tax rate cut makes affordable housing tax credits less valuableRising labor and material costs makes it expensive to buildLand is expensive in metro markets; so, it's only economical for developers to build at the high endHurricanes have driven down the availability of construction labor and driven up the costNIMBY regulationsThe shortage is so severe that it may never be resolved in my lifetime. 

Its been an excellent investment because I got lucky and started right after the financial crisis in 2008 when everything was dirt cheap.  

@Autumn DeyarminHi Autumn, Immediately with any commercial property, you need to understand the economics of the property.

I look at a lot of business/economic/real estate cycles and all indications point to the bottom of this cycle around 2025-2026 so we might have a long way for prices to fall. 

@Emily Lowe   You should invest in Watertown 1) Closest city to Boston With Residential exemption (low taxes) 2) Good Schools 3) 8 Minute Drive to Boston 4) Low Crime  5) Economically growing - FAST!!!!!

Were you satisfied with your achieved returns given the economic environment and the challenges of the project?

Industry is strong, with a diversified economic base - tech, insurance, apparel, banking, e-comm fulfillment are all represented.

I see the obvious risk of becoming first time landlord during instable economic times with high unemployment.

If you're worried about income, hunt until you find a cheaper deal that considers the current economic risks.

We don't mind him staying necessarily, but we prefer the flexibility of a MTM lease right now given the economic impact of COVID.