Rent Controlled 4 Plex
I recently was informed that my friend's dad may be interested in selling his 4 plex. All the units are currently occupied and have been for a while. The problem I see is that it's under rent control and the current monthly payments from the tenants are as much as $200 under comparable units.
I'm not too educated on rent control, but I've always heard it's something I should try to stay away from. Is this true? Does anybody have any advice I could work from?