The facility is underperforming and it should be a good opportunity to buy it while the price is "low" (asking $40 million, with a solar farm that is currently being installed) before the "Silver Tsunami" hits over the next few years.  

@Cody JournellI guarantee you in the net five years, you'll look back and see this post as you are buying 50 units plus.

When I buy properties with way under market tenants, I have a "bad news bear" letter that I send out which introduces us, explains the current situation and tells tenants what the current market rates are, and for tenants not under leases, when and how much the rent will increase.

(options to buy down into the 6s but I don't see many people opting to do that). 

Looking for input in this 4 unit building that I’m looking to buy in east Garfield Park, are there here anyone with properties in this location.

Beside the “subject to” that’s recently become the subject of much debate we utilized  ”no interest short term owner financing”, the “2nd mortgage crank”, substitution of collateral, mortgage subordination, wrap loans, real estate “exchange” (not for tax reasons), sale - lease back, guaranteed rent payments, sale - buy back, land offered in lieu of down payment, zero coupon bonds as substitution of collateral, and a few others that escape my memory.  

You could also instead: get a construction loan and buy a fixer home with no ADU and you build it yourself. usually - I see people buying a home like this for $650k to $700k and then adding the ADU for $100k where you end at $750k to $800k with a well renovated home! 

Where are you buying.

Currently as a 5 bd 2 ba it rents for $2500 but I'm finding it hard to increase rent just due to the fact that there's not many people out there looking for a 5/2 to rent or else they would just buy.

I buy 5-8 new properties per year and sell 2-3 of my rentals per year for income..