Regardless of how good this looks on paper you vet any pending and/or deferred maintenance.  

If it is one meter I would use the trailing 12months and divide by units.The actual Maintenance cost is anyone's guess.Any deferred maintenance?

If you say…ahhh…that floods every time it rains, the adjuster can deduct for something called Deferred Maintenance.

Hi @Tony Lin, Yes, if you meet the reinvestment requirements of trading equal or up in value and reinvesting the appropriate amount of net equity (net cash), your capital gain and depreciation recapture taxes are all deferred into your new replacement properties.It also that the capital gain and depreciation recapture amounts would not be included on your income tax return and would not count toward/trigger the Medicare Surcharge.The beauty of the 1031 Exchange is that it keeps all of your funds in your pocket working for you in building wealth for you instead of the federal and state governments.You do not necessarily have to pay Uncle Sam a big tax in the future.

Sounds to me like you may be ignoring deferred maintenance issues while assuming someone getting a sudden 54% raise in rent isn't going to be pissed at you.

You can sell your NYC co-op apartment and reinvest (1031 exchange) in other properties, and defer the capital gains tax on the $150k of gain you have.Good luck.

(maybe touchy, could be that they're just not managing effectively)Are the leases annual, or month to month - depending on the deferred maintenance levels of the property, a month to month lease may be a solid option - helps you rid of bad tenants a little bit easier/cheaper/faster and usually provides more reasons to evict, sometimes it can be for no reason at all so long as you provide a 30 day notice.Also - take a look at the property and try your best to estimate rehab costs - whether it's $2K or $50K, you'll want to have an idea.

This defers taxation on the sale, which means their capital keeps working without giving away earnings to the IRS. 

So the 1031 is probably your best best bet for you at this point if you want to defer triggering a recognition of gain that ain't there.  

I also as I go through the house I find deferred maintenance, you have to be careful not to nit pick the house and offend them.