It is very hard to sell the unit with the tenant. my unit is vacant and the on site property management company always take new application from prospect tenant.
The challenge is getting a loan for condo in general unless it is cash.
Let me know if you have any questions.
Most of the units need updating. The biggest thing we've done so far is replace all the windows except for the patio door, and replace the carpet with hardwood laminate, the kitchen and bathroom floors, plumbing fixtures, etc.
I was hoping that eventually this complex would go up in value, especially with UNC North going in. Now I don't know. Still, it is one of the least expensive places around and if you fix it up, it will rent.
I'm happy to discuss it further if you want to.
Vivian Olkin, aka CrazyViv
The best rental cycles in the area are either June 1 or Aug 1, when the majority of student rentals turn over. It sounds like you already own rental properties, so if there are tenants in place then you have to run your numbers to see if the ROI meets your goals, and you already know that the Seller should be able to show a history to indicate vacancy and rental rates.